Bitcoin Nears $57,000 as Markets Anticipate Rate Cut Following Weak US Job Data

Markets anticipate a 50 basis point (bp) rate cut in September amid deteriorating US Job data. According to the US Non-farm Payrolls (NFP) data released on Friday, the US economy added 142,000 jobs in August, below the expected 164,000.

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Weekly Crypto Outflows Reach $305 Million, Bitcoin Takes Biggest Hit

Bitcoin (BTC) is showing resilience despite the shifting sentiment in the crypto markets, with weekly outflows reaching $305 million. This shift follows stronger macroeconomic data from the US, leading to a change in market focus.

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All Eyes on Bitcoin as US Dollar Index Hits 2024 Lows

All eyes are on Bitcoin (BTC) after it reclaimed the $61,000 mark, following the release of the Federal Open Market Committee (FOMC) minutes. The recent price movement has reignited interest in the cryptocurrency, especially given Bitcoin’s correlation with global liquidity.

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