🔥🔥🔥 Crypto Market Awaits US Job Data; Will Fed Rate Cut Trigger #BitcoinRally ?
The crypto market is poised for crucial events next week, with investors focusing on U.S. job data due Friday, September 6, which could influence Federal Reserve rate cut expectations. The report is predicted to show an increase in job growth to 162,000 for August, with unemployment dipping slightly to 4.2%. This data is crucial as weaker job numbers combined with rising unemployment typically boost crypto sentiment, though unexpected results could sway the Fed's stance.
Additionally, remarks from Federal Reserve officials, including New York Fed President John Williams and Governor Christopher Waller, will be closely watched for policy clues.
Bitcoin and altcoins have faced recent volatility, and further economic developments could push Bitcoin's price as low as $50,000. Despite this, cooling U.S. inflation data has sparked some optimism, with the CME FedWatch Tool indicating a 70% chance of a 25 basis point rate cut in September.
Source - coingape.com
