According to BlockBeats, crypto analyst Miles Deutscher said that Bitcoin has recently shown a trend of "buying in Asia and selling in the United States". In the past two weeks, the cumulative return of Bitcoin in the Asian trading session exceeded 5%, while the US trading session showed negative returns.
The key data point next week will be the August non-farm payrolls report, which is due on September 6. A weak July jobs report could prompt the Fed to promise a rate cut in September. The market is currently pricing in a 25 basis point rate cut in mid-September.
If the second straight month of weak employment data is released, investors may expect the central bank to take action with a 50 basis point rate cut, which would provide a strong positive stimulus to risk markets, including Bitcoin. If the September employment report is strong, market expectations for loose monetary policy may weaken. Volatility may occur in the future, and the probability of upward volatility is about 50%.
