The non-farm report exceeded expectations, BTC breaks through $100,000, and Ethercoin challenges $4,000.

US November employment data exceeded expectations, with the S&P 500 and Nasdaq reaching new highs. BTC rebounded last night after experiencing an upward surge and subsequent correction, currently hovering around $100,000. Ether, on the other hand, returned to $4,000 for the first time in nearly nine months, with a market value of $485 billion, surpassing Mastercard at one point.

Non-farm payroll report supports the Fed's one-point rate cut in December

The U.S. Bureau of Labor Statistics announced on Friday (12/6) that non-farm payrolls increased by 227,000 in November, slightly higher than expected, and revised the October non-farm employment figure to an increase of 36,000, indicating a rebound in the labor market from the previous adverse weather and strike impact. However, the unemployment rate unexpectedly rose to 4.2%.

Investors believe that the US labor market is gradually slowing down, but the economy remains robust, meeting the expectations of the 'golden girl' and leaving room for the Fed to cut interest rates again.

According to the FedWatch data from the CME, 85% of traders believe that the Fed will announce a 25 basis point rate cut at the next 12/18 meeting, up from 71% the previous day and 66% last week. However, it may stand pat in January 2025, with the full-year 2025 likely seeing only three 25 basis point cuts to an Interest Rate level of 3.5%.

BTC hovering around $100,000

After experiencing a surge and a washout the day before yesterday, BTC rallied again last night and is currently hovering around $100,000.

(After Bitcoin broke through 100,000, the price dropped to 90K, causing over 1 billion in Get Liquidated across the entire network)

The total assets of BTCSpot ETF have reached $110.9 billion, accounting for 5.59% of the total market capitalization of BTC, surpassing Satoshi Nakamoto.

(Bitcoin Spot ETF holdings surpass Satoshi Nakamoto! Imbalance of supply and demand will cause BTC price to rise)

ETH is attempting to break through $4,000

Ether returned to $4,000 after nearly nine months. The market capitalization reached $485 billion, surpassing Mastercard at one point. However, there is still a 20% room for growth to reach the historical high of $4,868 in 2021.

The Ethereum spot ETF recorded a net inflow of $429 million on 12/5, the highest level since issuance. Currently, the net total assets of the nine ETFs amount to $13.1 billion, accounting for 2.73% of the Ethereum Market Cap.

Stablecoin issuer Tether minted another $200 million USDT on the Ethereum blockchain yesterday.

This article is better than expected in the non-agricultural report, BTC attacks 100,000 USD again, and Ethercoin challenges 4,000 USD first appeared on Chain News ABMedia.