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Inflation Cools Down: What Does That Mean for Bitcoin’s Macro Positioning
The US economy continues its late-cycle deceleration. January nonfarm payrolls rose 130K (vs 110K consensus), and unemployment edged down to 4.3%. However, revisions matter more: prior months were revised lower by 175K combined. Rolling 3-month average job gains now track 95K versus 220K at the same point last year. Stripping out private healthcare and government, the private economy shows flat to negative job creation. Wage growth at 0.3% month-on-month and 3.9% year-on-year remains firm but no longer accelerating. Retail sales flatlined against 0.4% expectations, and the control group fell 0.1%. Households are ... (full story)