The price of Bitcoin is sailing through troubled waters, hovering around $60,000. Its immediate future seems to depend on two key factors: the US employment report expected this Friday and the evolution of tensions in the Middle East. In this uncertain context, some analysts do not rule out a possible fall to $55,000.
American employment, a barometer of future Fed decisions
Investors' attention is focused on employment figures in the United States, a true barometer of the country's economic health. Economists expect the creation of 150,000 jobs in September, a figure slightly higher than the 142,000 in August. The unemployment rate, for its part, should remain at 4.2%.
These data are of central importance to the monetary policy of the Federal Reserve. A report below expectations could accelerate expectations of rate cuts, potentially supporting Bitcoin prices. Conversely, robust figures could dampen the crypto's momentum, as investors fear a prolonged continuation of high rates.
Chris Rhine, strategist at Galaxy Digital, points out: “ A jobs count below 100,000 would significantly increase the likelihood of a 50 basis point rate cut in November. » This outlook would be favorable for risky assets like Bitcoin.
Tensions in the Middle East, a major factor of uncertainty
At the same time, the escalation of tensions between Iran and Israel is casting a shadow over financial markets. The Iranian missile attack on Israel caused a decline in Bitcoin.
Rhine adds: “ Investors could see increased risk this weekend if these tensions remain elevated, leading to a risk-off environment regardless of jobs data. » This unstable geopolitical situation could therefore take precedence over economic indicators in the short-term evolution of Bitcoin.
In conclusion, Bitcoin is at a crucial crossroads. Between American economic data and geopolitical tensions, its price could experience increased volatility in the days to come. Investors will need to remain vigilant against these external factors that will shape the immediate future of the flagship crypto.
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