Both the crypto and traditional financial world are waiting for the non-farm payrolls data from the US at 03.30 p.m. today. While the employment figure in April was 175 thousand, the May figure to be announced today is expected to be 185 thousand.

Will the rise in Bitcoin continue?

Lower-than-expected non-farm payrolls figures could strengthen Bitcoin’s bullish movement this week. The fact that the figure is below expectations will be read by the markets as an indication that the economy continues to cool, so the rise of risky assets, including Bitcoin, can be seen.

As it is known, the Fed is waiting for the economy to cool down and thus for inflation to fall below 3% in order to cut interest rates. The Fed has long stated that its inflation target is 2 percent and that it will not compromise on this issue.

Another important indicator of whether the economy is cooling or not will be the unemployment rate. The unemployment rate expectation for May is 3.9% on an annualized basis.

This week, the number of open jobs (JOLTS) figures in the US were announced at the lowest level in the last 3 years, and this situation enabled Bitcoin to rise from $69,000 to over $70,000.