Macro Market Awaits US Non-Farm Payroll Data as BTC Faces Pressure

The global macro market has been focused on the Federal Reserve's monetary policy path, inflation trends, and economic growth expectations. The Fed maintained interest rates at its July meeting, with policymakers seeking a balance between controlling inflation and avoiding excessive economic slowdown.

The market attention shifted to the impact of future economic data on the pace of interest rate cuts, with U.S. labor market, inflation levels, and consumer performance becoming core indicators for assessing monetary policy direction.

Meanwhile, economic performance among major global economies has shown divergence, with the European economy still facing growth pressures, while some emerging markets continue to stimulate their economies through interest rate cuts and easing policies.