Looking to U.S. Jobs, Inflation Data for Guidance: Crypto Daybook Americas
The crypto market is currently range-bound, awaiting key U.S. economic data like jobs and inflation for direction.Summary
Bitcoin stabilized near $90,000, mirroring slight gains in S&P 500 futures, as the broader crypto market remains range-bound, described as "waiting for a catalyst." This week is crucial, featuring U.S. retail sales, jobs data, and inflation reports, alongside Bank of Japan rate decisions, all of which will influence expectations for Federal Reserve interest rate easing. Market sentiment has turned fearful, evidenced by the Crypto Fear & Greed Index and the liquidation of leveraged long positions, yet some technical indicators suggest caution for risk assets. Furthermore, BTC's hash rate reportedly dropped due to mining farm closures in Xinjiang, and the SEC issued guidance on crypto custody risks. Overall, crypto's macro sensitivity remains high until clearer economic signals emerge.
(Source：CoinDesk)