The tighter the labor market, the stickier inflation and the more pro-tightening, or hawkish, the Fed will be. Risk assets, including cryptocurrencies, are addicted to cheap liquidity and have taken a beating this year, mainly because of the Fed’s interest-rate-hike cycle. This year, the central bank has raised rates by 225 basis points. (A basis point is one-hundredth of a percentage point.)
Source: https://www.coindesk.com/markets/2022/09/02/bitcoin-ether-consolidate-as-traders-eye-us-jobs-report-to-gauge-next-fed-rate-hike/?utm_medium=referral&utm_source=rss&utm_campaign=headlines