#NFPCountdown

NFP Countdown - The Market's Next Big Volatility Test Next week, we’re going to get the next big catalyst and this NFP is likely going to set the stage for both crypto and traditional markets for the weeks ahead. After the blockbuster print last month forced traders to abandon their early assumptions for swift rate cuts, the Fed’s increased distance from providing forward guidance has made economic data even more influential. The payroll report next week won't just be another data print; this one could become a new map for the markets.

We’re all aware of how the report works but a much hotter print than the market expects will lead to the repricing of an even more hawkish rate outlook, usually pressuring risk assets as bonds yields rise and liquidity expectations firm.

This is likely to hit Bitcoin and altcoins very quickly. Alternatively, a much softer number would revive optimism for a more accommodative policy regime. As traders begin pricing in easier conditions in money, as seen before in the cryptocurrency market, a weaker employment number would bring back demand. Personally, I’m not taking large, committed positions around the data because this report can be a very violent event in both directions and the first price move usually isn't the real price move and I would prefer to let the market process the report. It's a safe bet that with Fed taking a back seat and allowing the data to drive their decisions that all major data releases now matter even more whether you trade Bitcoin, other altcoins, Gold or Equities. Patience leading up to announcement often proves to be far more profitable than picking an direction. What is your view?

Will June’s NFP print push crypto higher or will another stronger jobs number drag risk assets lower?

‍#BTC #Macro @Gate_Square