"Bitcoin's Fate Hangs on US Data Deluge"
1min read As Bitcoin (BTC) hovers near critical price levels, crypto investors are closely watching a packed week of US economic data releases that could sway market sentiment. From employment figures to Federal Reserve Chair Jerome Powell's insights, these macroeconomic indicators are poised to influence Bitcoin's trajectory.
US Macroeconomic Data To Watch This Week
Crypto market participants, traders, and investors have several US economic events to watch this week. This follows a notable sentiment shift during the weekend, driven by US President Donald Trump's move to commission a crypto reserve.
The crypto market's reaction to the president's executive order reflects Bitcoin's growing place in the United States macroeconomic space. Here is a breakdown of the five key data points to watch and their potential impact on the world's leading cryptocurrency.
ADP Employment Report
The week kicks off with the adp National Employment Report on Wednesday. This US economic data is a key gauge of private-sector job growth. After the previous 183,000, economists forecast February's jobs data slowing down to around 143,000. This reflects a continued cautious hiring environment, as President Trump's economic policies remain a topic of interest.
A stronger-than-expected report could signal resilience in the labor market, potentially boosting the US dollar and pressuring Bitcoin as investors pivot to traditional assets. Conversely, a weaker print might fuel expectations of Federal Reserve rate cuts, lifting BTC as a risk asset.
Initial Jobless Claims
According to data on MarketWatch, analysts anticipate a slight uptick to around 243,000 for the week ending March 1. Lower claims could reinforce confidence in the economy, potentially reducing Bitcoin's appeal as a hedge against uncertainty.
Higher claims, however, might stoke fears of a slowdown, driving investors toward BTC as a safe-haven alternative.
US Unemployment Rate
Friday's US jobs report, including the unemployment rate, is a market marquee event. Forecasts peg job growth at 160,000 for February, up from 
