#Buy Bitcoin on dips#
Hot Topic Overview
Overview
The Bitcoin market has seen some stabilization, with prices rebounding to near $95,000 as order books show dip buyers. However, Friday's US non-farm payrolls report will test this latest rally. The report is expected to show 164,000 jobs added in December, and a stronger-than-expected jobs report could exacerbate concerns about the Fed's hawkish stance, further pushing up real yields and complicating the outlook for risk assets. If the data comes in significantly better than expected, BTC could easily attempt $100,000 again.
Ace Hot Topic Analysis
Analysis
The Bitcoin market has seen some stabilization, with prices rebounding to near $95,000 as order books show dip buyers. However, Friday's US nonfarm payrolls report will test this latest rally. The report is expected to show 164,000 jobs added in December, compared to 227,000 in November. A stronger-than-expected jobs report could exacerbate concerns about a hawkish Fed, further pushing up real yields and complicating the outlook for risk assets. On the other hand, if the data is weak, it could trigger market expectations of Fed rate cuts and shift market sentiment significantly in favor of risk assets, potentially pushing Bitcoin prices to attempt a break above $100,000 again. Therefore, the future direction of Bitcoin will depend on the outcome of the US nonfarm payrolls report and the trajectory of Fed policy.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin buyers on dips are supporting the market, but US jobs data could impact price action.
Stronger-than-expected jobs data could exacerbate concerns about the Fed being hawkish, further pushing up real yields, which would be negative for risk assets.
Weaker-than-expected jobs data could spark market expectations of Fed rate cuts, which would turn market sentiment in favor of risk assets.
The US government holds a large amount of Bitcoin, and its selling could impact market movements.