BITCOIN | MACRO UPDATE
The latest data is starting to show a
slight cooling in the labor market
ADP:
38K vs 47K expected.
Claims:
206K vs 205K expected.
This slightly reduces pressure on the Fed for a
rate hike. The probability fell from 66% → 54%, while holding rates is around 45%
If the NFP comes in weak
, it could further reduce expectations of a rate hike, supporting BTC through a weaker DXY and weaker yields.
If the NFP comes in strong, the scenario flips: it would increase pressure on rates and BTC could face selling pressure.
For now,
BTC maintains a bullish bias as long as it holds 75.7K–71.8K
80K → 82.8K → 90K
Tomorrow, the
NFP will be the main catalyst.
#NFA. #DYOR Not investment advice.
The latest data is starting to show a
slight cooling in the labor market
ADP:
38K vs 47K expected.
Claims:
206K vs 205K expected.
This slightly reduces pressure on the Fed for a
rate hike. The probability fell from 66% → 54%, while holding rates is around 45%
If the NFP comes in weak
, it could further reduce expectations of a rate hike, supporting BTC through a weaker DXY and weaker yields.
If the NFP comes in strong, the scenario flips: it would increase pressure on rates and BTC could face selling pressure.
For now,
BTC maintains a bullish bias as long as it holds 75.7K–71.8K
80K → 82.8K → 90K
Tomorrow, the
NFP will be the main catalyst.
#NFA. #DYOR Not investment advice.