Tonight's non-agricultural data is a big news. I will simply say that whether it is bullish or bearish, Bitcoin will still rise in the evening.
In the final analysis, it has little to do with non-agricultural data. It can be regarded as an estimate of the Fed's interest rate cut.
If the non-agricultural data is very bad, the market will worry whether the Fed will force a rate cut and no longer pursue 2% inflation. The hidden problem of a hard landing of the economy makes market investors pessimistic about the US economy. Since the last non-agricultural data, the US dollar index has been weakening, but it has not recovered since then. The market has not digested the negative data of the US dollar.
On the contrary, whether the negative non-agricultural data can boost the Fed's sentiment for rate cuts, Bitcoin will rise in the short term due to the interest rate cut of its direct rival, the US dollar. Therefore, I think this non-agricultural data, whether it is bearish or bullish, is likely to rise.
