U.S. Macro Data Release Affects Crypto Markets

On January 9, critical U.S. economic data, including unemployment and payroll figures, will be released alongside potential rulings from the Supreme Court on tariffs.

These events will influence Federal Reserve interest rate decisions, impacting global risk assets, including cryptocurrencies.

Labor Data and Tariff Rulings Reshape Crypto Landscape

The U.S. Bureau of Labor Statistics released December’s unemployment rate and non-farm payroll data, influencing Federal Reserve interest rate decisions. Supreme Court may decide on Trump-era tariffs, impacting trade flows and risk sentiment.

Immediate changes include potential adjustments in trade policies and market expectations, likely affecting risk assets like cryptocurrencies, particularly Bitcoin and Ethereum, due to shifts in dollar strength and global risk appetite.

Lisa D. Cook, Member, Board of Governors of the Federal Reserve System, “The interplay between labor data and market expectations is critical. Labor market strength could suggest a tightening monetary policy, which we must consider in evaluating digital asset markets.” (Federal Reserve Speech Archive)

Bitcoin and Ethereum Volatility Amid Macroeconomic Uncertainty

Did you know? Historically, major releases like the non-farm payroll data have often led to short-term volatility spikes in the crypto market, particularly affecting BTC and ETH prices.

As per CoinMarketCap, Bitcoin’s current price is $90,316.86 with a market cap of $1.80 trillion. It dominates the market with 58.40% dominance, although its 24-hour trading volume fell by 10.74%. Notable price shifts include a 0.50% increase over 24 hours and a 19.50% decline over 90 days.

The Coincu research team notes potential regulatory and economic adjustments as pivotal. Market reactions to interest rate changes may redefine the crypto landscape, signaling possible increased scrutiny on digital assets affecting their valuation and investor confidence.