Brace for volatility as U.S. jobs data loom: Crypto Daybook Americas

Crypto traders are advised to brace for potential volatility as the pivotal U.S. nonfarm payroll report for November and October retail sales data are scheduled for release. This employment data is expected to provide insight into the cooling U.S. labor market, which will influence expectations for the Federal Reserve's rate-cutting trajectory. A weaker-than-expected report could increase expectations for more aggressive monetary easing, potentially boosting risk assets like Bitcoin (BTC) if lower rates revive risk-taking. Heading into the release, the digital asset market is holding recent losses, with Bitcoin trading near $86,400, down nearly 4% over 24 hours. Institutional demand remains weak, evidenced by a $357 million net outflow from U.S.-listed spot ETFs on Monday, and stablecoin growth has slowed, suggesting reduced fresh fiat inflows. Furthermore, the delay in the U.S. crypto market structure bill may be contributing to bearish sentiment. Technically, BTC's recent candle closed below a key support level, suggesting a potential re-test of lows near $80,000.

(Source：CoinDesk)