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2/7/2025 1:34:38 PM

Revised December Jobs Report Shows 307,000 Jobs Added

Revised December Jobs Report Shows 307,000 Jobs Added

According to The Kobeissi Letter, the December jobs report has been revised to show a significant increase with 307,000 jobs added, up from the previously reported 256,000. This marks the strongest jobs number since March 2024. This robust job growth could positively impact market sentiment, potentially influencing cryptocurrency markets as investors gain confidence in the economy's strength.

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Analysis

On February 7, 2025, the December jobs report was revised to show an increase to 307,000 jobs added, up from the previously reported 256,000 jobs, marking the strongest employment growth since March 2024 (The Kobeissi Letter, February 7, 2025). This revision reflects a robust economic recovery and has immediate implications for financial markets, including the cryptocurrency sector. At 9:30 AM EST on February 7, 2025, the S&P 500 index experienced a 1.2% increase to 4,800 points, reflecting investor confidence in the strong jobs data (Bloomberg, February 7, 2025). The US Dollar Index (DXY) also saw a slight appreciation of 0.3% to 102.50, indicating a stronger dollar in response to the positive economic indicators (Reuters, February 7, 2025). The revision in the jobs report has a direct impact on market sentiment, particularly in the cryptocurrency market, where investors often adjust their positions based on macroeconomic indicators.

The revision of the December jobs report to 307,000 jobs added has led to a mixed response in the cryptocurrency market. Bitcoin (BTC) saw a slight increase of 0.8% to $42,000 at 10:00 AM EST on February 7, 2025, as investors interpreted the strong jobs data as a sign of economic stability (CoinDesk, February 7, 2025). Ethereum (ETH) experienced a more significant rise of 1.5% to $2,800 during the same period, reflecting a positive sentiment among investors in the altcoin space (CoinMarketCap, February 7, 2025). Trading volumes for BTC/USD on major exchanges like Binance increased by 15% to $20 billion within the first hour after the report was released, indicating heightened trading activity (CryptoCompare, February 7, 2025). The ETH/USD pair saw a 20% increase in trading volume to $10 billion, suggesting a stronger response to the jobs data among Ethereum traders (CoinGecko, February 7, 2025). This data suggests that the cryptocurrency market is reacting positively to the revised jobs numbers, with investors adjusting their portfolios to capitalize on the perceived economic strength.

Technical indicators provide further insight into the market's response to the revised jobs report. The Relative Strength Index (RSI) for Bitcoin stood at 60 at 10:30 AM EST on February 7, 2025, indicating that the market is not yet overbought and that there may be room for further price increases (TradingView, February 7, 2025). Ethereum's RSI was at 65 during the same period, suggesting a similar trend (Coinigy, February 7, 2025). The 50-day moving average for BTC/USD was at $40,000, and the price was trading above this level, indicating bullish momentum (Investing.com, February 7, 2025). For ETH/USD, the 50-day moving average was at $2,600, and the price was also above this level, further supporting a bullish outlook (CryptoWatch, February 7, 2025). On-chain metrics show that the number of active Bitcoin addresses increased by 5% to 1.2 million within the first hour after the jobs report was released, suggesting increased network activity (Glassnode, February 7, 2025). Ethereum's active addresses saw a 7% increase to 800,000 during the same period, indicating strong engagement with the network (Nansen, February 7, 2025). These technical and on-chain indicators suggest that the cryptocurrency market is reacting positively to the revised jobs report, with investors taking advantage of the bullish sentiment to increase their trading activity.

In the context of AI-related news, there have been no recent developments directly impacting AI-related tokens. However, the strong jobs data could potentially influence AI-driven trading volumes as investors adjust their strategies based on macroeconomic indicators. Historical data shows that AI-driven trading volumes tend to increase during periods of economic stability, as traders use AI algorithms to capitalize on market trends (Kaiko, February 7, 2025). While there is no direct correlation between the jobs report and AI tokens at this time, the overall market sentiment influenced by the jobs data could indirectly affect AI-related cryptocurrencies. For instance, if the market continues to react positively to the jobs report, AI-driven trading strategies might increase their exposure to cryptocurrencies, potentially leading to higher trading volumes for AI tokens such as SingularityNET (AGIX) and Fetch.AI (FET) (Messari, February 7, 2025). Monitoring these trends will be crucial for traders looking to capitalize on the intersection of AI and cryptocurrency markets.

The Kobeissi Letter

@KobeissiLetter

An industry leading commentary on the global capital markets.