U.S. Non-Farm Payrolls Data to Drive Fed Policy, Cryptocurrency Market Volatility
1min read Today, the U.S. is set to release the March Non-Farm Payrolls (NFP) data, a crucial indicator for the market to gauge the Federal Reserve's future monetary policy. According to market expectations, weak data could prompt the Fed to accelerate interest rate cuts, potentially benefiting the cryptocurrency market. Conversely, strong data might dampen the appeal of risk assets, including cryptocurrencies.
Bitunix analysts suggest that a weak job market could bolster market expectations for a Fed rate cut later this year. This would likely enhance market liquidity and support the trend of risk assets. Bitcoin (BTC) is currently focusing on short-term support at 80K and long-term support at 78K. The cryptocurrency market has recently been influenced by factors such as Trump's tariff policy and expectations of a global economic slowdown, leading to increased market volatility.
Investors are advised to practice risk management, avoid overexposure in a single direction, and optimize asset allocation to mitigate market risks. The upcoming NFP data release is expected to significantly impact market sentiment and could lead to high volatility in the cryptocurrency market. According to the analyst's forecast, the expected Non-Farm Payrolls are 139K (prior: 151K), the expected Unemployment Rate is 4.2% (prior: 4.1%), and the expected Average Hourly Earnings Monthly Growth Rate is 0.4% (prior: 0.3%).
