The upcoming U.S. nonfarm payrolls report is anticipated to impact both traditional and cryptocurrency markets, according to AiCoin. A strong report could lead to a temporary rise in Bitcoin (BTC) before a potential pullback, while a weak report might boost Bitcoin as a safe-haven asset. Currently, BTC is near the lower Bollinger Band, with a possible retest of the $110,000 level.
Ethereum (ETH) is also under scrutiny, approaching the 3000 support level on the monthly chart. If this level holds, ETH could retest 3500 and potentially move toward 4000. This analysis was shared by Zhao Yun, a seasoned trader with nine years of experience, during a live session on Tencent Meeting.
U.S. Nonfarm Payrolls Expected to Influence Bitcoin and Ethereum Prices
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