Non-Farm Payroll - USA and the current employment
Non-Farm Payrolls- USA, an indicator of major economic changes, talk about changes in the number of people with jobs in the USA, not in the agricultural sector. Investors and traders see this report in cryptos since it mostly serves the basis on which cryptocurrencies will price.
Effect of NFP on cryptos
NFP report can affect the crypto markets in many ways. If the report reads that the US economy is adding jobs at a faster rate than expected, it would be a positive read for the overall economy that may cause investors to buy cryptocurrencies as an inflation hedge. The price of crypto would soar due to this.
In contrast, if the NFP non-farm payroll reports show that the US economy had added jobs at a slower rate than expected, it would be a much worse outcome for the overall economy, and investors may liquidate their cryptocurrencies, putting further pressure down on the price of crypto.
DYOR
So do not just invest, Do your own research before investing. Understand also the NFP report about how it can affect the market where you're trading- the crypto market. Know your risk habit and risk appetite level with your investment goals before you put any money in crypto investment.