Analysts: Weaker-than-expected non-farm payrolls report may prompt the Federal Reserve to ease monetary policy, which would benefit the crypto market.

Odaily Planet Daily reports that the US November non-farm payrolls report will be released later today along with October retail sales data. The employment data will further reveal the extent of the cooling in the US labor market, thus influencing expectations regarding the Federal Reserve's interest rate path. Analyst Linh Tran stated that a weaker-than-expected non-farm payrolls report could reinforce the view that US economic growth is slowing significantly, thereby increasing market expectations for more aggressive monetary easing. Lower interest rates mean that weak data could stimulate risk appetite, potentially leading to a rebound in Bitcoin prices. However, the current continued weakness in Bitcoin prices is mainly due to weak institutional demand for alternative investment instruments. (CoinDesk)