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5 US economic data reports shaping crypto markets this week

December’s private sector jobs report could be a signal of economic strength, thereby influencing Bitcoin’s appeal. Strong employment data may boost consumer confidence, leading to increased spending and investment in Bitcoin. However, robust job numbers might prompt the Federal Reserve to raise interest rates, affecting Bitcoin’s attractiveness as a non-yielding asset.

The FOMC minutes provide insights that may steer market sentiment, potentially affecting crypto investment decisions. Additionally, reports on jobless claims and consumer sentiment could drive volatility, shaping Bitcoin’s risk appeal. Positive consumer outlooks might result in increased investor interest in cryptocurrencies, including Bitcoin. However, higher interest rates could dampen this enthusiasm.

This is community-generated content, not advice from ONUS.
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