According to @CryptoMichNL, job openings and ADP data are at their worst levels in over three years, indicating substantial economic weakening. This has led to a rally in gold prices. Michaël van de Poppe suggests that the Federal Reserve may need to cut interest rates by 50 basis points to manage the ongoing economic challenges.

According to CryptoMichNL, the latest job openings report revealed a figure of 7.67 million, falling short of the expected 8.10 million and marking the worst report since April 2021. This has led to a substantial drop in interest rates and a weakened $DXY index. Consequently, altcoins are experiencing a bounce.