The crypto market remains stable, fluctuating between $109,000 and $104,000 after reaching a new all-time high of $111,980. Investors are hopeful for fresh economic data from the US that may impact the market.
Fed Chair Jerome Powell Speech
On June 2, Fed Chair Jerome Powell will speak in Washington at 1 PM. His remarks regarding the state of the economy and potential Fed actions on interest rates could significantly influence market sentiments.
JOLTS Job Openings Report
On June 3, the latest Job Openings and Labor Turnover Survey (JOLTS) for April will be released. In March, job openings fell to 7.192 million, the lowest since September 2024. A continued decline in job openings could lead the Fed to consider lowering interest rates, potentially supporting Bitcoin.
Employment and Unemployment Report
On June 6, the Non-Farm Payrolls report and the unemployment rate will be released. In April, 177,000 new jobs were added, keeping the unemployment rate steady at 4.2%. A slowdown in job growth could drive investors towards Bitcoin as a safe alternative.
The crypto market is poised for significant movements in response to key economic data releases. The shifting prospects for interest rates linked to employment figures play a crucial role for investors.
