Major cryptocurrencies experienced a surge on Monday evening, driven by the anticipation that the Federal Reserve may halt its rate hikes. Weaker U.S. jobs data provided further support for this belief, as reported by Bitfinex.
The release of the jobs data on Friday further solidified expectations that the Fed is taking a more dovish stance. According to the U.S. Labor Department’s employment report, October saw the creation of only around 150,000 new job positions, compared to the significant rise of approximately 297,000 in September.
