Crypto Markets Surge Amidst Weak Job Openings Data, Could Fed Rates Drop Soon?

In a positive turn for the crypto market, U.S. job openings data disappointed expectations, with July’s JOLTS report showing 7.181 million open positions – below market forecasts of 7.4 million. This softer labor market signals potential for further Fed rate cuts this year. Bitcoin, Ethereum, XRP, and other altcoins saw a much-needed rebound on Wednesday as investors reacted positively to the economic data.