Pre-Employment Data and the Search for Balance in the Crypto Market

While leading cryptocurrency Bitcoin is trading at $66,650, Ethereum is priced at $2,057. The total size of the crypto market is $2.30 trillion. The bulletin prepared by CoinTR Research Department covers the latest developments in the market.

Highlights of the Last 24 Hours in Cryptocurrencies

The crypto market started the day with limited recovery but maintains a volatile outlook due to geopolitical risks. Although there is a partial search for balance in markets weakened after sharp statements from U.S. President Donald Trump, the high risk perception continues to limit upward movements. Bitcoin’s attempt to recover after a pullback indicates that short-term corrective buying is active. Inflation pressures fueled by energy prices continue to be decisive in the global macro outlook, suggesting that expectations regarding the Federal Reserve’s interest rate cut may be postponed. The focus of the markets today is on the employment data coming from the U.S. This includes non-farm payrolls, unemployment rate, and wage data, which will provide important signals for the economic outlook. However, with the U.S. and European markets closed today, the message conveyed by the data is expected to be more influential than price reactions.