Bitcoin Nears Breakout After US Job Data, 125 Bps Fed Rate Cuts This Year?

The US non-farm payroll data shows that 142,000 jobs have been added in August, down from what the market was expecting. Following this data, which indicates a cooling Labor market, the market is now betting over a half-point rate cut at the upcoming Federal Reserve’s meeting later this month. Besides, Bitcoin noted recovery after the US job data, indicating the regaining confidence of the investors towards risk-bet assets.