Non-Farm Payrolls (NFP) are a crucial economic indicator that measures job creation in the United States, excluding the agricultural sector. The impact of NFP on cryptocurrencies can be significant, as strong employment data usually boosts investor confidence, leading to a rise in stocks and potentially crypto. On the other hand, weak numbers can cause uncertainty and a sell-off, negatively impacting cryptocurrency prices. Furthermore, NFP influences expectations about monetary policy, which can affect the liquidity of the crypto market. Thus, investors need to monitor this data to understand potential fluctuations in the crypto market.
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