The weak private sector employment data released by ADP has unsettled traditional markets, showing that only 54,000 jobs were added in August, far below the market forecast of 75,000.
On Friday, the more important U.S. employment report will be released, which will reveal whether the labor market is strong or losing momentum. Wednesday's labor data showed that the number of unemployed individuals (7.24 million) currently exceeds the number of employed individuals (7.18 million). Although economists expect an increase of 80,000 jobs in August, some are concerned that the actual number may be far below expectations.
For Bitcoin investors, signs of a slowing labor market may be a signal for the Federal Reserve to consider lowering interest rates. The CME FedWatch Tool currently shows a 97.6% chance that the Fed will lower the benchmark interest rate by 25 basis points at the September meeting, and many traders expect this move to trigger a rebound in Bitcoin prices.
Despite the market anxiously awaiting this week's U.S. employment data, retail and institutional investors are actively buying in the spot market.
BTC/USDT liquidation heatmap shows that Bitcoin prices are closely hovering between $109,000 and $111,200, with short-term traders taking profits near the high points of this range.
If Bitcoin breaks $114,000, the cumulative short liquidation intensity of mainstream CEX will reach $847 million.
Conversely, if Bitcoin falls below $111,000, the cumulative long liquidation intensity of mainstream CEX will reach $1.416 billion.
On the other hand, as the wave of 'corporate cryptocurrency buying frenzy' continues, the second largest stock exchange in the United States, Nasdaq, which is the listing location for many cryptocurrency reserve companies, has decided to conduct strict reviews and impose stricter regulations on companies that purchase cryptocurrencies through capital increases. Nasdaq will strengthen its review of listed companies' cryptocurrency investments. The reason for the increased scrutiny is that many of these 'MicroStrategy' type companies are not transparent in their cryptocurrency investment activities, and it is evident that many companies are buying cryptocurrencies with funds raised from the public to boost their stock prices, raising concerns at Nasdaq about the risks this poses to investors.
Once the news broke, most 'MicroStrategy' type companies saw their stock prices plummet, causing investors in the cryptocurrency market to worry about potential repercussions on cryptocurrencies, fearing that new policies might force some companies to sell their holdings of cryptocurrencies, leading to a decline in the crypto market. This new regulatory rule is actually beneficial for the crypto market in the long run, as it prevents these companies from 'inflating' their positions, which could lead to greater risks in the future, but in the short term, there will definitely be some pain in the crypto market.
Today's fear index is 48, maintaining a neutral state.
Tonight, the U.S. will release significant non-farm unemployment data. The last release in August caused both stocks and cryptocurrencies to plummet, so the market is on guard for another potential disaster tonight. Therefore, it is important to note that there may be significant volatility in the market tonight, especially since it is Friday, and there might be a flight to safety before the U.S. stock market opens, presenting an opportunity for a market correction. So be cautious and pay attention to your position, or wait for the trend to clarify before planning to enter the market. Currently, the total number of Bitcoins held by publicly listed companies has surpassed 1 million, equivalent to $112.4 billion, but most Bitcoin reserve-type companies are just starting their long-term allocation strategies, and a large portion of the funds raised has not yet been truly invested in the market, leaving room for further action; do not panic.
