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Bitcoin Weaker Following NFP Surprise - CPI & Fed Next
Bitcoin prices are looking weaker on Monday following heavy selling on Friday as traders digested the latest US labour market data. A strong upside surprise in the NFP saw traders dialling back their September easing expectations, sending USD surging higher. As a result of the shift in USD, we’ve seen risk assets coming under heavy selling pressure with BTC futures shedding around 5% from last week’s highs. Looking ahead this week there is plenty of bearish risk given the US CPI report due on Wednesday and the FOMC meeting later that day also. In terms of the likely market impact of Wednesday’s data and Fed ... (full story)