Big Week for Bitcoin as Major U.S Economic Events This Week
The post Big Week for Bitcoin as Major U.S Economic Events This Week appeared first on Coinpedia Fintech News
This week is lined up for the key U.S. economic events, including jobs data, CPI data, and a Fed speaker’s speech. These events could strongly impact Bitcoin and the overall crypto market.
The cryptocurrency market is already under pressure, with its total value falling from $4.1 trillion to approximately $3.05 trillion. Many traders are now watching this data closely, hoping positive news can ease the stress on prices.
Dec 16: US Unemployment Rate & NFPOn Tuesday, December 16, the US will release unemployment and Non-Farm Payrolls (NFP) data. Economists expect the economy to add only 50,000 jobs, much lower than in previous months.
Last month, job numbers crossed 200,000, and Bitcoin, Ethereum, XRP, and Solana fell 3% to 7% within a day. If jobs data beats expectations again, crypto prices could face fresh selling.
The US unemployment rate is also expected to rise to 4.5%, up from 4.4%. Higher unemployment could support markets, but strong job data may hurt crypto.
