This week, critical economic indicators including ISM Services, PMI, and jobless claims are influencing Bitcoin’s outlook. A widening trade deficit may weaken the USD, potentially boosting Bitcoin’s attractiveness as a hedge. Investors are keenly observing the Fed’s tone during the upcoming FOMC meeting.
Traders expect that stronger economic signals could lead to reduced Bitcoin demand, as investors may prefer equities. Conversely, any signs of economic weakness could increase Bitcoin’s appeal as a safe-haven asset, given its inverse correlation with the dollar.
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