Bitunix Analyst: The US ADP employment data for February is weak, expectations for interest rate cuts are rising, and the cryptocurrency market continues to rebound

News on March 6, as of press time, the price of Bitcoin is currently about $92,151, with an intraday high of $92,293 and a low of $89,955. It has rebounded by more than 13% in a short period. The number of people employed in the US according to ADP data for February only increased by 77 thousand which is the smallest increase since July 2024 and far below market expectations of 140 thousand and previous value of 186 thousand.

This weak data may indicate that the non-farm employment report (previous value:143 thousand; forecast:193 thousand) to be announced on March 7th,2025 might also fall short of expectations. This triggers market concerns about slowing U.S economic growth which could affect Federal Reserve's monetary policy decisions.

Analysts' view: If non-farm employment data continues to be weak it could lead to a decline in market confidence in the dollar. Before the release of non-farm data it is recommended to operate cautiously waiting for clear market reactions before making arrangements.