TechFlow news, according to CoinDesk, crypto analyst Miles Deutscher said that Bitcoin has recently shown an "Asia buying, U.S. selling" trend. Over the past two weeks, Bitcoin's cumulative return during Asian trading hours exceeded 5%, while it recorded negative returns during U.S. trading sessions.
A key upcoming data release will be the August non-farm payrolls report on Friday, September 6. July's employment report was weak, potentially paving the way for the Federal Reserve to commit to rate cuts in September. Currently, markets expect a 25 basis point rate cut mid-month. However, if employment data shows weakness for a second consecutive month, investors may quickly anticipate a 50 basis point cut by the central bank, which would provide strong positive stimulus to risk markets, including Bitcoin.
If the September jobs report comes in strong, market expectations for accommodative monetary policy could diminish. Regardless of the outcome, volatility may lie ahead, with roughly a 50% probability of upward price movement.
