Bitcoin's price is closely tied to U.S. macroeconomic data, and this week's key economic releases could significantly impact market sentiment and price movements.
Strong employment data and Jerome Powell's hawkish stance may lead to selling pressure on Bitcoin due to expectations for higher interest rates.
Five crucial reports and events to watch are the ADP Employment Report, Jobless Claims Report, Unemployment Rate, Federal Reserve Release, and Consumer Credit.
These indicators can influence Bitcoin's price by reflecting economic strength or weakness, potential rate cuts or higher interest rates, and shifting investor attention towards traditional assets or alternative investments.