Bitcoin, which closed the year with its best performance with a remarkable rise in November, reached an all-time high of $96.6 thousand and brought a positive atmosphere to the markets. Now, December may reinforce this optimism even more. Past data shows that the bull movements that started in November usually continue in December. Therefore, it is very important for investors to follow these dynamics in the market closely.
The US Bureau of Labor Statistics releases the JOLTS job openings report every month. This report provides detailed information on job openings, hirings, and layoffs. The October data, to be released on Monday, will provide a clearer picture of labor demand. The increased labor demand could strengthen the dollar and cause volatility in the cryptocurrency market. Investors will review their positions based on changes in the value of the dollar.
The November ISM Manufacturing PMI report, to be released on Tuesday, will reveal the general situation in the US manufacturing sector. The PMI data is expected to rise from 46.5 to 47.5. If this increase occurs, the weakening dollar could lead investors to cryptocurrencies. This could positively affect the short-term outlook of the market. Data on the manufacturing sector is critical for understanding market trends as well as evaluating investment opportunities.
The November ADP Nonfarm Payrolls report, to be released on Wednesday, will assess employment changes in the US private sector. Investors will use this data to predict possible changes in the market direction. There was a lower-than-expected employment increase in October. November data can provide important clues about the performance of crypto assets and market trends.
The US unemployment claims data, released each Thursday, shows the number of people applying for unemployment benefits and is considered a key indicator of the overall health of the market. This week, the number of applications is expected to increase from 213,000 to 215,000. Rising unemployment claims can increase market volatility, causing cryptocurrency asset prices to fluctuate.
The November employment report, to be released on Friday, will summarize total employment growth in the U.S. and provide insight into the overall health of the economy. Only 12,000 new jobs were added in October. The results of the November report could have a decisive impact on the cryptocurrency market. Investors will carefully examine the reports to be released this week to shape short-term market trends and long-term strategies.
Although the general outlook of the market is bullish, macroeconomic data can quickly change the direction of the market. Therefore, it is very important for investors to make careful analysis at every step.