Amerdata's Director of Derivatives, Greg Magadini, believes there is no reason not to be optimistic about BTC. He pointed out that Friday's employment data and the recent drop in stock market volatility could be catalysts for the continued rise of cryptocurrencies. The Labor Department's employment report on Friday showed that after adding 297,000 jobs in September, job growth slowed to 150,000 in October. At the same time, the unemployment rate rose to 3.9%, and wage growth measured by average hourly wages slowed, indicating that deflation is still continuing. This data makes it more likely that the Fed will not raise interest rates again, which is a positive development for risk assets, including cryptocurrencies. Since March of last year, the Fed has raised interest rates by 525 basis points to 5.25%.