According to Michaël van de Poppe, the release of the latest unemployment data on January 10, 2025, showed a figure of 4.1%, surpassing the anticipated rate of 4.2%. This positive economic indicator immediately influenced financial markets, particularly impacting bond yields, which saw a positive uptick in response to the news. The better-than-expected unemployment rate suggests a strengthening labor market, which typically leads to increased investor confidence in fixed-income securities, hence the rise in yields. This development is crucial for traders monitoring the bond market as it may indicate shifts in monetary policy expectations.

The immediate market reaction also had adverse effects on risk-on assets, including equities and cryptocurrencies. The moderation in risk sentiment led to a slight correction in altcoins, as observed on the same day. Altcoins, being highly volatile and speculative, tend to react negatively to news that boosts traditional market instruments like yields. This correlation is important for traders who need to manage risk exposure in their portfolios when macroeconomic indicators suggest shifts toward safer investments. The correction in altcoins, though slight, highlights the sensitivity of these assets to broader economic data releases.

Technically, the market's response to the unemployment data can be analyzed through various indicators. Trading volumes for altcoins decreased slightly following the data release, as reported by CoinMarketCap at 14:00 UTC. This drop in volume suggests cautious sentiment among traders. Additionally, the Relative Strength Index (RSI) for major altcoins such as Ethereum and Binance Coin showed a dip below the neutral 50 level, indicating weakening momentum. On-chain metrics from Glassnode also reflect a slight increase in the exchange inflow of altcoins post-announcement, suggesting some traders might be positioning for potential further corrections. These technical indicators provide a comprehensive view of the market's reaction and offer traders insights into potential future movements.