Current Situation in Bitcoin and Altcoins Before Critical Data from the USA - Coin Bulletin

Bitcoin (BTC), showing signs of recovery after a sharp decline, while volatility is expected in the market with the upcoming release of US non-farm payroll data.

US non-farm payroll data will be released at 16:30 today. It is believed that these data will significantly affect the direction of the cryptocurrency market in general.

According to many market experts, non-farm employment data is as important as inflation data for the interest rate decision. Experts predict that the interest rate decision to be taken by the Federal Reserve (FED) will be significantly influenced by the developments in the labor market.

After the previous non-farm employment data was announced as 143,000 people, Bitcoin (BTC) and Ethereum (ETH) prices had risen. According to experts, this time the expectation is shaping around 159,000 people. A figure higher than expectations could have a positive impact on the dollar index (DXY).

If the data indicating changes in the number of workers in February excluding the agricultural industry move upwards, there may be an increase in the value of the dollar. An increase in the (DXY) dollar index, which moves in inverse correlation with Bitcoin, will have a negative impact on the cryptocurrency market.

The latest situation in cryptocurrencies prior to the data to be disclosed

Bitcoin (BTC) price is trading at 88,904 dollars, experiencing a 0.3% decrease in the last 24 hours. Ethereum (ETH), on the other hand, finds buyers at the level of 2,176 dollars with a 0.9% decrease.

In major altcoins, similar price movements to Bitcoin occurred, with Ripple (XRP) experiencing a %2.8 decrease to $2.51, Solana (SOL) experiencing a %4.7 decrease to $142, and BNB (BNB) experiencing a %0.2 decrease to $598.