How does nonfarm payroll data affect cryptocurrency prices?

1 answers

• May 06, 2022 · 3 years ago
  At BYDFi, we closely monitor the impact of nonfarm payroll data on cryptocurrency prices. While the correlation between the two may not always be direct, we have observed instances where significant changes in nonfarm payroll data have coincided with notable price movements in the cryptocurrency market. This highlights the interconnectedness of traditional financial markets and cryptocurrencies. Traders and investors should stay informed about economic indicators like nonfarm payroll data and use them as part of their overall analysis and decision-making process.
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