According to TechFlow, according to CoinDesk, 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 rate 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 will be released on Friday, September 6. A weak July jobs report could be a catalyst for the Fed to promise a rate cut in September. However, the market is currently pricing in a 25 basis point rate cut in mid-September. But if the second consecutive month of weak jobs data is released, investors may quickly anticipate a 50 basis point rate cut from the central bank, which would be a strong positive stimulus for risk markets, including Bitcoin.

If the September jobs report is strong, market expectations for loose monetary policy may be tempered. Regardless of the outcome, volatility is likely ahead, with a roughly 50% chance of upside volatility.