The United States is about to receive a series of key economic data this week, focusing on job market performance. Dealers are assessing whether these data will change the future policy expectations of the Fed and further affect short-line fluctuations in risk assets such as Bitcoin, the Ether and XRP.
At present, Bitcoin reports US$78,796.58, ITA US$2,478.28 and XRP US$ 1.40. In the past seven days, bitcoin rose by 1.7 per cent, in the fare by 0.7 per cent, and XRP by 7.7 per cent. During the same period, Solana rose by 12.0 per cent, and BNB was almost even.
Intensive data release this week
According to The Kobeissi Letter, six important United States economic data will be released this week, with employment-related data receiving the most attention.
- Monday: August, Chicago PMI
- Tuesday: August ISM Manufacturing PMI, Price Data and July JOLTS job opening
- Wednesday to Friday: ADP Employment, ISM Services Data and Non-Agricultural Employment Report
The high interest of the market in employment data is due to their direct impact on the Federal Reserve ' s judgement of inflation and economic weakness. If the labour market continues to perform robustly, market expectations of interest rate reductions may cool further and risk assets may be under pressure.
Bitcoin focus $8.25 million
In terms of the price structure, bitcoin is still operating in the interior, with a support of approximately $73,000 to $75,000, with resistance concentrated above in the $80,000 to $82,000 area. If the price rises to about $82,500, the market is more likely to see it as a higher level of top recognition.
At the same time, the area between $76,400 and $76,700 is considered to be a short-line area of liquidity that requires attention. If the market weakens before and after data are released, this zone may become a short-term test location.
ETH and XRP hold the key.
Ether is still at the top of $2,400, which means that previous breakthrough structures have not been destroyed. The next major area of resistance lies between $2,750 and $2,800.
XRP returns to the vicinity of the US$ 1.30 to US$ 1.40 support area, which was previously blocked near US$ 1.60 to US$ 1.70. The current fall is more like a cooling down after the upturn in the previous period than a reversal of the trend.
Overall, data on employment and manufacturing, published successively from Monday to Friday, may gradually increase market volatility. The report on non-agricultural employment on Friday is considered to be the most critical data node of the week, and the result is either beyond expectations or will determine whether the encryption market will be organized in the near future as an upward breakthrough or whether it will continue the current downward spiral.