US Non-Farm Employment Data Expected in Bitcoin! What Time Will It Be Announced? What is the expectation?

We said it would be a tough week for Bitcoin and cryptocurrency investors, but no one expected this much.

While the hawkish statements from the FED, the USA moving 49 thousand Bitcoins in its hands, the lawsuit against KuCoin, Bitcoin fell below $20,000 again after 55 days.

Currently, the $19800 level is an important support level for Bitcoin, and whether the weekly close is below this level can be decisive for the direction of the market. Because, as we shared yesterday before the decline hardened, Bitcoin Realized Price, which has been successful as a support so far, is passing through this region.

#Bitcoin Realized Price 19 872$ 🫂 pic.twitter.com/Gn1rCobQCt

— Bitcoin System (@bitcoinsystem) March 9, 2023

Data from the USA will be followed today. Although it is considered that the effect of the data from the USA will be limited after the price movement yesterday, when the biggest liquidations after the FTX crisis in long positions were experienced, volatility may increase once again in the short term.

US non-farm employment data will be announced at 16.30 CEST and the expectation is an increase of 205 thousand.

The Effect of Non-Farm Employment on Price

The fact that the non-farm employment data is above expectations is considered as a signal of the economic recovery in that country and has a positive effect on the currency.

The head of the FED, who was deployed during the week, stated that they would evaluate the rate of increase in interest rates according to the data. For this reason, any data from the USA before the interest rate decision on March 22 will have an impact on the markets.

If the data to be announced at 16.30 comes above 205 thousand, we can see that DXY (dollar index) rises and Bitcoin retreats a little. If it comes below 205 thousand, it may cause us to see a pullback in DXY.