According to Bloomberg, investors are closely watching employment data to determine whether the world's largest economy is slowing down and the pace of monetary policy that will follow. Bitcoin's response to macro events is highly correlated with the stock market.
Bitcoin was up about 1% at $56,653 as of 12:30 p.m. on Friday in Singapore, about $17,000 below its all-time high hit in March.
Loose monetary policy is generally seen as bullish for crypto assets.Forecasters expect the jobs data to show a pickup in hiring and a slight drop in the unemployment rate, marking a stabilization after a growth scare sparked by July data.
