4 Key US Economic Data to Shape Bitcoin Sentiment This Week

Bitcoin traders are bracing for a pivotal week dominated by four major US economic releases that will influence crypto market sentiment. The most significant event is the FOMC interest rate decision on Wednesday, where the market widely anticipates an 87% probability of a rate cut, which generally benefits cryptocurrencies. However, the actual impact on Bitcoin may depend more on Federal Reserve Chair Jerome Powell's subsequent commentary regarding future policy and inflation.

Additionally, labor market data, specifically Tuesday's Job Openings and Job Leavers Survey (JOLTS) report and Thursday's Initial Jobless Claims, will be closely watched. Strong job figures could temper expectations for aggressive rate cuts, while weak data might signal more easing but also risk-off sentiment. The jobs market status presents a dual influence on Bitcoin.

Technically, Bitcoin is hovering near critical levels: support at $86,000 and resistance at $92,000, with $100,000 as a major target. Any unexpected guidance from Fed speakers later in the week will further shape the market's direction for December.

(Source：BeInCrypto)