Best Crypto to Buy Now July 2 – Beam, Toncoin, Jupiter
The cryptocurrency market appears to be in a recovery phase after weeks of a bearish outlook, sparking cautious optimism among investors.
According to CoinMarketCap data, Bitcoin (BTC) shows signs of price recovery, recording an increase of nearly 1% in the past 24 hours.
Bitcoin’s growth has boosted altcoins like Solana (2.44%), Ripple (1.28%), and Cardano (4.35%). Meanwhile, Ethereum (-0.55%) struggles at $3,400.
Several key events are on the horizon that could impact the crypto market. One of them is the job report from the Bureau of Labor Statistics.
According to the report, job openings jumped higher to 8.14 million in May, signaling continued resilience in the labor market.
In addition, the estimated number of hires rose from 5.62 to 5.76 million, indicating a growing demand for labor. Conversely, layoffs and separations increased slightly from 1.54 million to 1.65 million in May.
Job openings rose modestly to 8,140,000, though this seems to be simply part of the inconsistent but ongoing decline in job openings, rather than a meaningful reacceleration.
The openings to unemployed workers ratio remains at 1.22, consistent w/ pre-pandemic.
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— Daniel Zhao (@DanielBZhao) July 2, 2024
Additional economic indicators, including the US ADP Employment Report, US Jobless Claims, the US ISM Services PMI, and the FOMC Meeting Minutes, are set to be released on July 3.
Labor Market Data
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