Key Points
- •Goldman Sachs reports increased U.S. jobless claims amid government shutdown.
- •Initial jobless claims rose to around 224,000 last week.
- •Possible impact on the cryptocurrency market under examination.
Goldman Sachs analysts, led by Jan Hatzius, reported a rise in U.S. initial jobless claims to 224,000 for the week ending September 27, amid federal data delays.
This analysis, occurring during a government shutdown, highlights potential economic uncertainties affecting market confidence and employment trends.
Goldman Sachs Analyzes Data Amid Federal Report Delays
The report by Goldman Sachs economists, led by Jan Hatzius, analyzed the increase in jobless claims using data released by states. State-level raw data was adjusted using pre‑released seasonal factors due to the lack of a federal report amid the shutdown.
Impact analysis suggests that the increase in unemployment claims could have broader economic implications. "We have raised our year‑end price target for Bitcoin to $133,000 by the end of 2025 and to $181,000 by the end of 2026," said Citigroup analysts, underscoring the ongoing evaluations of economic indicators. The delayed September employment report, originally due earlier, adds to uncertainties surrounding economic data release schedules.
Market observers have responded cautiously to the rise in jobless claims, with some analysts anticipating potential impacts on investments tied to broader economic indicators. No direct statements from key figures have been quoted regarding this development.
Cryptocurrency Markets: Possible Jolts from U.S. Job Data
Did you know? Historically, unemployment data can affect investor outlook, prompting shifts in both regulatory stances and technological developments.
Bitcoin's current price is $122,314.65, with a market cap of $2.44 trillion and a dominance of 58.05%. The 24‑hour trading volume is $84.89 billion, marking a 17.14% change. Over 24 hours, Bitcoin rose by 1.49%, reflecting an 11.48% increase over seven days. [Data: CoinMarketCap]
Insights from the Coincu research team suggest potential regulatory and technological evolutions within the cryptocurrency domain may arise from such economic indicators.