Oct 4, 2024
Bitcoin had its best performing month of September since 2013 and it had everyone fired up for October which is traditionally one of the better performing months in stocks and crypto, often referred to as “Uptober”. With all that expectation, the 1st of October started off with a bang on Tuesday where Bitcoin briefly touched $64k before dropping sharply on the 2nd and 3rd, bottoming out on Thursday at $60k due to rising tensions in the Middle East as well as fears of a Port Strike across the U.S.
The September Jobs Report showing strong jobs numbers came out first thing this morning with 254’000 new jobs added to the US economy, well above expectations of 147’000. Some are asking if the Fed’s 50 basis point cut was too aggressive. Regardless, the markets are reacting positively to this news and everything on the 24h chart is in the green as we type this newsletter.
Last week's top gainers are this week's biggest dippers on the 7 day chart but that could quickly change by the end of the weekend. Don’t forget crypto trades 24 hours a day, 7 days a week.
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