The newly released employment data proves that the labor market is weak, further raising expectations for a rate cut

Lin Chen, the head of Deribit's Asia-Pacific business, posted on social media that the newly released employment data proves a weak labor market, raising further expectations for interest rate cuts. This is macroscopically beneficial to risk assets and has immediately boosted BTC prices. New employment and inflation data will be released in the coming weeks, and there may be more positive news in June.