A review of 6 years of Bitcoin data suggests the U.S. Nonfarm
Payrolls (NFP) report isn't consistently a major price mover for BTC.
๐ Since January 2020, Bitcoin has moved an average of around 2.1% on NFP days
โ๏ธ Out of 79 NFP releases, BTC closed higher 39 times and lower 40 times
๐ The data shows no clear directional pattern for day traders
However, the broader market environment still matters. A major move in Treasury yields or the U.S. dollar following the report could still impact Bitcoin and other risk assets.
๐ All eyes on today's market reaction.
#dyor #NFAโ
Payrolls (NFP) report isn't consistently a major price mover for BTC.
๐ Since January 2020, Bitcoin has moved an average of around 2.1% on NFP days
โ๏ธ Out of 79 NFP releases, BTC closed higher 39 times and lower 40 times
๐ The data shows no clear directional pattern for day traders
However, the broader market environment still matters. A major move in Treasury yields or the U.S. dollar following the report could still impact Bitcoin and other risk assets.
๐ All eyes on today's market reaction.
#dyor #NFAโ