Will Nonfarm Payroll Data Extend Bitcoin Price Correction or Trigger Recovery to $70K?

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Will Nonfarm Payroll Data Extend Bitcoin Price Correction or Trigger Recovery to $70K? - CoinGape

Quick Summary:

The United States Bureau of Labor Statistics (BLS) will release the monthly Nonfarm Payroll (NFP) report on August 2 as Bitcoin and altcoins like Ethereum, Solana, and Dogecoin struggle to find direction.

Cryptocurrencies sustained losses this week amid rising geopolitical tensions in West Asia.

From the Money Flow Index (MFI), which, despite falling to the oversold region, has recovered to 29, BTC price could slowly regain momentum, targeting the psychological resistance at $70,000.