U.S. August employment data came in stronger than expected, with nonfarm payrolls rising by 162,000 versus forecasts of 55,000 and rebounding sharply from July’s revised 21,000 increase. The report eased concerns over labor market weakness and shifted market attention back to the inflation outlook.
Bitcoin briefly broke above $82,000 early in the week before retreating to $79,300, while Ethereum held near $2,500. Spot Bitcoin ETFs recorded $770 million in net inflows from September 1 to 4, with flow patterns suggesting institutions adjusted positions ahead of key data.
Bitcoin faces resistance at $80,000-$82,000, while Ethereum has met selling pressure above $2,500. August CPI data due Friday is expected to be the key test for September policy expectations and could provide a catalyst for a directional market breakout.
Strong U.S. Jobs Data Lifts Crypto Market Focus to August CPI
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