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Bitunix analyst: U.S. ADP employment data in February is weak, interest rate cut expectations rise, crypto market continues to rebound
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4 hours ago 3,228
According to reports on March 6, as of press time, the price of Bitcoin is currently about $92,151, the intraday high is $92,293 and the low is $89,955, and it rebounded more than 13% in a short period of time. The U.S. ADP employment population increased by only 77,000 in February, the smallest increase since July 2024, far lower than the market expectations of 140,000 and the previous value of 186,000. The weak data may indicate that the upcoming non-farm employment report (formerly valued at 143,000, forecast of 193,000) to be released on March 7, 2025 may also be lower than expected. This has sparked market concerns about a slowdown in U.S. economic growth and may affect the Federal Reserve's monetary policy decisions. Analysts' view: If non-farm employment data continue to be weak, it may lead to a decline in market confidence in the US dollar. Before the non-agricultural data is released, it is recommended to operate with caution and wait for the market to respond clearly before making layouts.
Keywords: Bitcoin
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