The previous week delivered a surprise as the US economy lost 23,000 jobs in July, while expectations had pointed to the creation of roughly 80,000 positions. This week is shaping up to be crucial, with the CPI and PPI inflation reports due on Wednesday and Thursday, respectively, which could shape the Federal Reserve’s monetary policy. Bitcoin dropped to a monthly low of $62,200 before rallying by over $3,000 at the end of the week. BTC is currently trading around $65,000, as market participants await the key economic indicators that will determine the direction of the crypto market.
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