Bitcoin Bounces or Busts: Fed Decision Hinges on Crucial Economic Reports

A busy week of economic events is ahead for investors trying to predict the next move by the Federal Reserve. Bitcoin has been under renewed pressure as it enters September, but geopolitical tensions won't be the only factor traders need to watch.

On Tuesday, two reports capable of moving markets will be released: the July JOLTS Job Openings and August ISM Manufacturing PMI. Economists expect job openings to decline slightly to around 7.27 million, which could reinforce expectations that the Fed has room to raise rates again, potentially supporting Treasury yields and the greenback.

The August employment report on Friday will be a key event, with general expectations suggesting the US added approximately 58,000 jobs in August while unemployment remains at 4.1%. A stronger-than-expected report could suggest employment remains resilient despite restrictive monetary policy, which could be bearish for risk assets.