How does NFP impact the cryptocurrency market?

1 answers

• codi hildebranJan 25, 2021 · 5 years ago
  At BYDFi, we closely monitor the impact of Non-Farm Payroll (NFP) on the cryptocurrency market. The release of the NFP report can cause significant fluctuations in cryptocurrency prices. Positive NFP data, such as strong job growth and a decrease in unemployment rates, can lead to increased buying activity in the cryptocurrency market. This can result in higher prices and trading volumes. Conversely, negative NFP data, such as weak job growth or an increase in unemployment rates, can trigger selling pressure in the market. This can lead to lower prices and trading volumes. Therefore, it is important for cryptocurrency traders to pay attention to the NFP report and its potential impact on the market.
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