US Jobless Claims Rise as Crypto Faces Fed Pressure
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US jobless claims 200,000 for week ending May 2 (vs 205,000 expected); strong labor data and persistent inflation raise odds Fed keeps rates higher longer, putting fresh pressure on bitcoin and broader crypto markets. Traders turn cautious as renewed volatility hits bitcoin; macro-driven headwinds may weigh on fundraising, token launches and DeFi/CEX liquidity and adoption in the near term.
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- Strong US job data continues to reduce hopes for quick Fed rate cuts, putting fresh pressure on bitcoin prices.
- Rising inflation and steady hiring trends keep crypto traders cautious as the Federal Reserve holds firm on rates.
- Bitcoin faces renewed volatility after lower jobless claims strengthened confidence in the US economy and labor market.
US jobless claims rose modestly last week, yet the American labor market continued showing surprising strength despite ongoing layoffs across major corporations. The Labor Department reported 200,000 new unemployment claims for the week ending May 2, slightly below economists’ expectations of 205,000 filings.
The data reinforced expectations that the Federal Reserve could keep interest rates higher for longer as inflation pressures persist. As a result, bitcoin and other cryptocurrencies faced renewed pressure because tra…
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