The agenda has been busy in the last few minutes and we have seen many developments that will directly or indirectly affect cryptocurrencies. JOLTS data was announced and PMI data was also shared. coinbase has announced maintenance and geopolitical tensions are rising. Here’s a recap of the last few minutes.
Cryptocurrencies Latest Status
US data was eagerly awaited today and JOLTS data has now been released. This data showing open job positions came in at 8.04M against the expectation of 7.963M. Although this is not a huge difference, it shows that the employment front remains relatively strong and the Fed can easily continue interest rate cuts.
However, ISM PMI data came in at 47.2, below the expectation of 47.5. It sent a depressing signal that certain areas of the economy were starting to contract. The third important development is the maintenance that the Coinbase exchange will carry out on October 26. The company wrote the following a few minutes ago;
“coinbase The exchange will be temporarily offline due to a planned technical system upgrade starting at 9:00 AM ET on Saturday, October 26, 2024.
All trading on Exchange and Prime will be paused. Transfers will be delayed on Coinbase Exchange. The downtime will consist of two phases. We expect this to take around 2 hours to complete, but this estimated time may vary.
Technical system upgrade (estimated to be completed in up to 1 hour) and Trading resumption (estimated to be completed in up to 1 hour, but may take longer depending on market conditions).”
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
