Bitcoin's Recent Trading Trends and Upcoming Economic Data Impact

According to BlockBeats, cryptocurrency analyst Miles Deutscher has observed a recent trend in Bitcoin trading characterized by 'Asian buying and U.S. selling.' Over the past two weeks, Bitcoin's cumulative return during Asian trading hours has exceeded 5%, while U.S. trading hours have shown negative returns. Next week's key data point will be the non-farm payroll report for August, scheduled for release on Friday, September 6. The July employment report was weak, which could prompt the Federal Reserve to commit to a rate cut in September. Currently, the market expects a 25 basis point rate cut in mid-September. However, if the employment data remains weak for a second consecutive month, investors might quickly anticipate a 50 basis point rate cut, providing a strong positive stimulus for risk markets, including Bitcoin. Conversely, if the September employment report is strong, expectations for accommodative monetary policy may diminish. Regardless of the outcome, volatility is likely to occur, with an approximately 50% probability of upward movement.