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Employment data in June US exceeded predictions and set the macro background that could send bitcoins (BTC) around $ 200,000, according to Matt Mena’s research remark, a crypto of a research strateg 21 Shares.
The Ministry of Labor said that wages without a farm increased by 147,000 in June, exceeding an estimate of a consensus of 110,000, while the unemployment rate dropped to 4.1% of 4.2%. In addition, it has decreased under estimated 4.3%.
Mena writes that the numbers show “the power of the labor market without overheating”, a mix that supports the narrative about the slow landing of the federal reserve system.
Futures associated with the Federal Funds now fully the price of the 25-zac-point reduction at the September political meeting and the CME Fedwatch tool assigns about 75% of this result.
As inflation by 2.4%Menna, the Fed “has room for action”, especially as a political pressure. The pressure comes mainly from the President Donald Trump The letter urged the return to 1% of the terminal.
Channels of liquidity and market response
Expectations of rates are filtered into risk assets. Mena notes that the futures S&P 500 are “flirting with all the maximum” near 6,300, while Bitcoins trade between $ 108,000 and $ 110,000 and “waiting for the catalyst”.
At the time of printing, the BTC price is $ 109,518.14, which represents an almost 1% increase in the last 24 hours.
Mena noted that the share of bitcoins in the total market value of the crypto reduced to 62%, in recent days by 3%. He considers this to be an early signs of capital rotation into altcoins.
It connects the shift to larger prospects for liquidity with congress progress in the law structure law and Genius ActLegal regulations saying that it could help suppress regulatory uncertainty and expand institutional participation.
Journey to $ 200,000
Mena combined a data string with a wider context that can move bitcoins towards the threshold of $ 200,000. He mentioned that a stable but non -inflationary growth of work is preparing a way to release the flexible, lower politics and release liquidity.
Historically, fresh capital is first assigned to bitcoins and then to altcoins. In this sequence he writes: “The runway is formed” to enforce a high previous cycle.
The strategy considers the $ 200,000 brand to be a “decisive level of escape” rather than the top of the cycle and added that altcoins could overcome as soon as Bitcoin creates a new line.
