Bitcoin’s Future Hinges on Upcoming US Economic Data
- Analyst Benjamin Cowen highlights the importance of the non-farm payrolls (NFP) report for Bitcoin’s trajectory.
- The NFP report, due February 7th, reveals job changes in the US, excluding agriculture.
- Cowen suggests Bitcoin could rise if unemployment remains around 4.1% or 4.2%.
- Potential Bitcoin price targets are between $120,000 and $150,000 if trends repeat last year’s pattern.
- Bitcoin is currently trading at $102,491.
The upcoming NFP report is crucial for Bitcoin’s direction, with a stable unemployment rate potentially leading to a price increase. Cowen predicts possible targets between $120,000 and $150,000 if historical patterns hold. Bitcoin trades at $102,491 presently.
Source (2.6)https://dailyhodl.com/2025/02/01/analyst-says-bitcoin-decision-time-quickly-approaching-highlights-one-factor-that-could-dictate-btc-direction/?rand=59076
