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.

美国劳工统计局 (BLS) 将于 8 月 2 日发布月度非农就业 (NFP) 报告，因为比特币和以太坊、Solana 和 Dogecoin 等山寨币正在努力寻找方向。

Cryptocurrencies sustained losses this week amid rising geopolitical tensions in West Asia. Besides, investors did not buy the dovish stance fronted by the Federal Reserve on Wednesday, leaving interest rates at 5.25% – 5.5%.

由于西亚地缘政治紧张局势加剧，加密货币本周持续下跌。此外，投资者并不认同美联储周三的鸽派立场，维持利率在5.25%至5.5%之间。

NFP Explained: How Nonfarm Payroll Impacts Crypto Prices

NFP 解释：非农就业如何影响加密货币价格

The NFP report measures the change in the number of US jobs created or lost in a month. Released on the first Friday of each month at 8:30 AM EST, it's a crucial economic indicator. Economists use this data to gauge the country's economic health as it directly reflects growth, consumer spending, and total economic activity.

NFP报告衡量了美国一个月内创造或失去的就业岗位数量的变化。该指标于美国东部时间每月第一个周五上午 8:30 发布，是一项至关重要的经济指标。经济学家利用这些数据来衡量该国的经济健康状况，因为它直接反映了增长、消费者支出和总体经济活动。

Higher NFP figures—above expectations are viewed as positive for the US dollar but pose immense risk for volatile assets like Bitcoin, stocks, and crypto. A stronger NFP will trigger a US dollar rally which means risk off and eventually a Bitcoin price crash.

较高的非农就业数据——高于预期被认为对美元有利，但对比特币、股票和加密货币等波动性资产构成巨大风险。更强劲的非农就业数据将引发美元上涨，这意味着风险规避并最终导致比特币价格暴跌。

Subsequently, Bitcoin will benefit should the Nonfarm Payroll report come out lower than expected, exerting pressure on the US dollar. This may culminate in a weaker currency, bolstered by several interest rate cuts before the end of 2024, which could significantly bump up the progress of risk assets. Consistent interest rate cuts would drive Bitcoin price as the US economy slows down.

随后，如果非农就业报告低于预期，比特币将受益，从而对美元施加压力。在 2024 年底前多次降息的支撑下，这可能最终导致货币走弱，这可能会显着提高风险资产的进展。随着美国经济放缓，持续降息将推动比特币价格上涨。

The overall expectation is that July's Nonfarm Payroll data today will increase by 175k following a 206k jump in June and further clear the course for several interest rate cuts before the end of the year.

总体预期，继 6 月跃升 20.6 万之后，今日 7 月非农就业数据将增加 17.5 万，进一步明确年底前多次降息的方向。

Bitcoin Price Bounces Back Targeting $70,000

比特币价格反弹至 70,000 美元

Bitcoin price is back to trading above the 200-day Exponential Moving Average (EMA) in purple on the four-hour chart after bulls fiercely defended $62,000 support on Thursday. 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.

在周四多头猛烈捍卫 62,000 美元的支撑位后，比特币价格在四小时图表上回到紫色的 200 天指数移动平均线 (EMA) 上方。从资金流向指数（MFI）来看，尽管跌至超卖区域，但已恢复至29，BTC价格可能会慢慢恢复动力，目标是70,000美元的心理阻力位。

Traders will look out for a daily close above $65,372—the previous day's open and, subsequently, the 20-day EMA in blue to validate the reforming trend reversal. A break above $66,000 support/resistance will reinforce the bullish grip as traders target two key levels at $68,000 and $70,000.

交易者将关注每日收盘价高于 65,372 美元（前一天的开盘价）以及随后的蓝色 20 日均线，以验证改革趋势的逆转。突破 66,000 美元的支撑/阻力位将加强看涨势头，因为交易者的目标是 68,000 美元和 70,000 美元的两个关键水平。