Key points:
Bitcoin has seen significant volatility as markets prepare for the release of US jobs data for August. The jobs report, a key indicator of the health of the US economy, is expected to play a key role in the Federal Reserve’s interest rate decisions, with market participants closely watching for signs of a possible rate cut.
Read more: Interest Rate Forecast Shows 70% of Polymarket Traders Predict Fed Cut
Ahead of the Federal Open Market Committee meeting, traders are pricing in the possibility of a 25 or 50 basis point interest rate cut, with today’s US jobs report expected to be a key deciding factor. Market analysts believe the report will influence Bitcoin’s volatility as institutional investors and ETFs continue to navigate the economic outlook.
The continued outflow of funds from Bitcoin exchange-traded funds, totaling $900 million, is contributing to the volatility. However, analysts also see a potential trend reversal opportunity amid the increased volatility.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
VanEck Ethereum futures ETF closure due to its spot Ethereum ETF approval. EFUT investors must…
Debugging efforts on Pectra Devnet 2 are nearly complete, and preparations for Pectra Devnet 3…
The world of crypto trading is on the brink of a revolutionary transformation, thanks to…
Brussels, Belgium, 6th September 2024, Chainwire
The Central Bank of Russia (CBR) is building CBR crypto payments infrastructure for cross-border transactions…
In today's rapidly evolving financial landscape, the integration of blockchain technology and crypto trading is…
This website uses cookies.