Bitunix analyst: U.S. ADP jobs data weak in February, interest rate cut expectations rise, crypto market continues to rebound

On March 6th, as of press time, the bitcoin price is currently around 92,151 US dollars, with a high of 92,293 US dollars and a low of 89,955 US dollars, rebounding more than 13% in a short period of time. The US ADP employment population increased by only 77,000 in February, the smallest increase since July 2024, and much lower than the 140,000 and previous value 186,000 expected by the market. The weak data may indicate that the upcoming non-farm payrolls report (previous value 143,000, forecast 193,000) on March 7, 2025 may also be less than expected. This has raised market concerns about the slowdown in US economic growth, which may affect the Federal Reserve's monetary policy decision.
Analysts' opinion: If the non-farm payroll data continues to be weak, it may lead to a decline in market confidence in the dollar. Before the release of non-farm payroll data, it is recommended to operate cautiously and wait for the market reaction to be clear before making arrangements.