The market awaits non-farm payroll data, BTC hovers around 96K

The market is waiting for tonight's US non-farm payroll data to determine the future direction of the Interest Rate, and the US stock market is flat. The top ten Market Capitalization coins are mostly falling, with BTC hovering around 96K. Ethercoin is relatively weak, with recent disturbances in the Ethereum community and inflation issues with ETH, causing ETH to languish below three thousand.

Market focuses on today's non-farm payroll data

Yesterday's increase in initial jobless claims in the US was announced, but labor productivity remains strong. Economists predict that Friday's non-farm payrolls report will add 175,000 jobs. Weak data may enhance expectations of further interest rate cuts by the Federal Reserve, while stronger-than-expected data may have the opposite effect. In addition to Friday's employment data, Wall Street will also closely monitor revisions to employment growth. Economists predict that this number will be significant, but may not be as bad as initially estimated.

Tom Essaye of Sevens Report said, 'The employment report on Friday is important for the market because if it delivers a favorable result, it will help support the market in the environment of trade tariffs and policy noise. However, if it's not a golden-haired girl, it will bring another resistance to risk assets and may put pressure on the stock market.'

Bissant: The 10-year bond yield will fall.

In addition, US Treasury Secretary Scott Bessent (reiterated) his view that Intrerest Rates on 10-year bonds under the Trump administration will fall. Bessent said that Musk's government efficiency team did not manipulate the Treasury's payment system and emphasized that their work will bring significant savings.

The yield on US Treasury bonds fell slightly yesterday. The 10-year Treasury yield fell 0.13% to 4.43%.

Top 10 Market Capencryption Coin Trends

The top 10 market capitalization coins have experienced a decline, with BTC hovering around 96K. The trend of Ethercoin is relatively weak, and the recent turmoil in the Ether network, as well as the inflation problem of ETH, have made ETH languish below 3,000.

(ETH circulation returns to pre-The Merge level! Does the Blobs mechanism cause too little destruction, making Ether more disappointing the better it is used? )

TON, which is closely related to Telegram, continues to weaken as its founder Pavel Durov is still a year away from trial. As of the deadline, it is reported to be at $3.75, a drop of nearly 30% in the past two weeks.

(Telegram Storm: Pavel Durov to face trial in a year, TON encryption communication empire in turmoil)

This article Market Awaits Nonfarm Payrolls Data, BTC 96K Hovering first appeared in Chain News ABMedia.