Posted 11/3/2023, 11:46:00 AM
Bitcoin Dips Ahead of U.S. Jobs Report That Could Sway Fed Policy
- Bitcoin drops 2% ahead of key US jobs data that could impact risk assets like crypto
- Jobs data expected to show sharp slowdown in job creation and wage growth from September
- Better-than-expected data may weigh on risk assets as it counters Fed's dovish stance
- Markets convinced Fed tightening cycle has ended after explicit mention of impact on growth
- Fed raised rates rapidly in past year, contributing to crypto crash, but may cut rates soon