India, May 1 -- Cryptocurrency market capitalization increased in the past 24 hours as markets reassessed the likelihood of a rate cut by the Fed in the wake of weak economic data from the U.S.
Close on the heels of job openings in the U.S. falling to a six-month low of 7.19 million in March, data released on Wednesday showed private businesses in the U.S. adding 62 thousand workers to their payrolls in April, which was the softest increase since July of last year.
Indications of a stress in the labor market was followed by data showing contraction in the U.S. economy. Data released by the U.S. Bureau of Economic Analysis on Thursday showed the American economy contracting at an annualized rate of 0.3 percent in the first quarter of 2025....