We have entered September, historically seen as a bearish month, as Bitcoin (BTC), Ethereum (ETH), and altcoins are experiencing a general correction.
At this point, analysts expect September to be a downward month, while the FED interest rate decision, which could change the balances in September, will be announced.
While it was stated that the FED’s interest rate cut could trigger the rise, the US Non-Farm Payroll data, which is of great importance in the FED’s interest rate decision, was announced today.
The data released on the first Friday of each month is closely followed by investors and interested parties to understand the state of the economy.
The data disclosed is as follows:
Nonfarm Payrolls Data: 22k Announced vs. 75k Expected vs. 73k Previous
Unemployment data: Announced 4.3% – Expected 4.3% – Previous 4.2%
Bitcoin’s reaction after the incoming data was as follows:
*This is not investment advice.