Reported about 1 month ago
This week is crucial for Bitcoin and the U.S. Dollar Index as key economic data is expected to impact the markets. Upcoming reports, including the Institute of Supply Management (ISM) manufacturing PMI and nonfarm payrolls, could signal further weakness in the dollar, potentially benefiting risk assets like Bitcoin. Analysts suggest that a weak PMI reading could strengthen expectations for a Federal Reserve interest rate cut, which historically has been favorable for Bitcoin. Market sentiment remains cautious, and technical indicators suggest Bitcoin may face continued bearish momentum.
Source: YAHOO