Bitcoin is likely to fluctuate strongly tonight🔥🔥
At 20:30 tonight (January 10, 2025), the US Non-Farm Payrolls (NFP) data will be released. This is an important indicator reflecting the health of the economy and often has an indirect impact on Bitcoin as well as the cryptocurrency market.
How does NFP affect $BTC ?
1. Positive NFP (higher than expected):
• The US economy is stronger, the Fed may keep or raise interest rates to control inflation.
• The USD appreciates, reducing the attractiveness of Bitcoin and risky assets.
👉 Bitcoin is likely to decrease in price as investors switch to safe assets such as USD or bonds.
2. Negative NFP (lower than expected):
• The US economy is weakening, the Fed may cut interest rates or loosen monetary policy.
• The USD is weakening, investors look to Bitcoin as a risk-hedging tool.
👉 Bitcoin is likely to increase in price due to capital flows into digital assets.
Historical data:
• July 2023: Strong NFP → Bitcoin decreases in price due to the increase in USD.
• October 2023: Weak NFP → Bitcoin increases in price due to expectations that the Fed will cut interest rates.