💥 US Jobless Claims Exceed Expectations.
💥 Markets Uneasy
💥 Fed Interest Rate Move on the Agenda
✨ Weekly data released today by the US Department of Labor indicated an unexpected slowdown in the labor market. The number of Americans filing for initial unemployment benefits in the week ending March 1st reached 220,000. Economists' median expectation was 210,000. Thus, applications exceeded expectations by 10,000, and the hashtag #USJoblessClaimsMissExpectationsquickly rose on social media. This was the highest figure in the last four weeks, while continuing claims also increased to 1.85 million, reaching their highest level since the second half of 2024. Wall Street reacted. At the opening, the Dow Jones fell 0.8%, the S&P 500 fell 0.6%, and the Nasdaq fell 1.2%. The 10-year bond yield fell to 4.28%. Gold hit a new record high of $2,185 per ounce.

#CryptoMarketsDipSlightly
✨Cryptocurrency markets are experiencing a slight correction today. Total market capitalization has fallen by approximately 4% in the last 24 hours to $2.32 trillion. 24-hour trading volume hovered around $98 billion. Bitcoin dominance remains at 58.5%, while the overall market sentiment is in "Extreme Fear" mode.
🤔This slight dip seen across the market stems from profit-taking in Bitcoin, which recently reached levels as high as $74,000.
✨Main Reasons for the Decline
🔹Profit-taking: Short-term investors engaged in heavy selling after the $74,000 peak. 🔹Geopolitical tensions: Developments in the Middle East reduced risk appetite and increased oil prices.
🔹Macroeconomic data: February US employment data came in worse than expected (92,000 job losses, unemployment rising to 4.4%). This has reshaped expectations for a Fed interest rate cut and strengthened the dollar.
✨ The Fear & Greed Index is currently in the "Extreme Fear" zone with 20 points. While this level historically signals short-term dip buying opportunities, it also increases volatility. Bitcoin is expected to consolidate in the $65,000-$67,000 range due to its inability to hold above $70,000. However, institutional inflows (ETF flows) and long-term optimism are still strong. This slight correction is seen as a "dip buying" opportunity for many investors.
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🤔 Would you open a position at this dip or wait? I'm waiting for your comments and positions!