Odaily Planet Daily News: The U.S. nonfarm payrolls report is about to be released, and the Federal Reserve's interest rate decision committee will closely monitor the report. According to FactSet's forecast, the U.S. economy may have added 55,000 new jobs in December, with the unemployment rate expected to drop from 4.6% to 4.5%. Weak economic data could reinforce expectations for further rate cuts, potentially leading to a weaker U.S. dollar and boosting the prices of risk assets, including Bitcoin. Before the nonfarm report, Bitcoin showed no clear directional bias, with a 24-hour gain of 0.2%. The crypto market remained relatively calm, with Ethereum (ETH) and Binance Coin (BNB) showing little significant movement, while Solana (SOL) rose 2.8% in the past 24 hours. (CoinDesk)
Bitcoin Shows No Clear Direction Before Nonfarm Payrolls Release, Crypto Market Remains Calm
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Summary
Bitcoin news indicates the asset is holding steady ahead of the U.S. nonfarm payrolls report, with a 0.2% increase in the past 24 hours. The cryptocurrency market remains quiet, with Solana (SOL) rising 2.8%, while Ethereum (ETH) and BNB show little movement. The report is expected to show the creation of 55,000 new jobs and a 4.5% unemployment rate, which could support expectations of Federal Reserve rate cuts, potentially weakening the U.S. dollar and boosting risk assets like Bitcoin.
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