BTC rises as it awaits NFP data

The most valuable crypto, Bitcoin (BTC)started the week on the rise, rising above the $63,335 level and touching a peak of $63,697. The momentum also pushed the rest of the market higher, driven by several factors.

Expectations of an interest rate cut by the Fed in September have the US dollar weakenedindirectly favoring Bitcoin. Also influencing the movements of the crypto asset is the imminent payment of $9 billion worth of Bitcoin da parte dell’exchange Mt. Gox, as well as the new regulation EU MiCA.

Weakening Dollar Favors Bitcoin

Giving a boost to Bitcoin is a sluggish US dollar, due to lower inflation and expectations for an interest rate cut by the Fed.

Key factors:

• Lower inflation: The May Personal Consumption Expenditures (PCE) price index rose just 2.6%, the lowest annual rate since March 2021.
• Rate Cut Expectations: The market expects a reduction in interest rates in September and December.
• Weak dollar: The dollar has fallen sharply from its recent peak, making Bitcoin more attractive to investors.

All of these factors have created fertile ground for Bitcoin as investors seek alternative assets ahead of a possible interest rate cut. The weakening of the dollar, in particular, makes BTC a more attractive investment, given that it is not tied to any national currency.

But any changes in economic indicators or Fed policy could have a major impact on the price movements of the most valuable cryptocurrency. For this reason, investors should monitor developments closely.

US Job Market Spotlight: Mixed signals for Bitcoin

This week the focus will be on data from U.S. Non-Farm Payrolls (NFP). This is an important economic indicator, which is published monthly in the United States by the Department of Labor. This data provides information on the total number of jobs created or lost in the country during the previous month, except agricultural activities.

The upcoming U.S. jobs report, due on Friday, July 5, could have a major impact on Bitcoin. While the average hourly earnings are expected to rise by 0.3%, slightly lower than the 0.4% forecast, the forecast of 189,000 fewer nonfarm payrolls is lower than the 272,000 fewer jobs previously estimated.

This data paints a mixed picture of the labor market, potentially impacting the Federal Reserve’s interest rate decisions and, ultimately, the attractiveness of Bitcoin as an investment.

Investors are awaiting the report, given the correlation between Bitcoin and the US dollar. A positive jobs report could strengthen the dollar and potentially put pressure on BTC. Conversely, a disappointing report could further weaken the dollar, increasing the attractiveness of Bitcoin.

Bitcoin price prediction

Bitcoin is currently trading at the $63,315 level, up 1% in 24 hours. It is facing resistance around the $63,555 levelas shown by the pattern Doji candlestick on the 4-hour chart.

Despite the immediate bearish signals, its 50-day exponential moving average (EMA) continues to rise towards the $61,680 level, suggesting a possible upside in the market.

If Bitcoin breaks below the pivot point of $63,555, the downtrend could strengthen, resulting in a decline towards the support levels of $62,650, $61,830, and $60,650.

On the contrary, if he could break through the resistance at $63,555could trigger more buying pressure and push towards the resistance levels of $64,470, $65,360 and $66,170.

It is therefore necessary to carefully monitor the price movements of the asset around these key levels.

Mega Dice Pre-Sale Nears Finish Line: $1.57 Million Raised

The Mega Dice project pre-sale is proving very successful as it enters its final phase. It has raised over $1.57 million in funding so far and sold 19 million of the 28 million $DICE tokens allocated for this phase.

This strong momentum highlights the strong interest in cryptocurrency-integrated iGaming within the Web3 ecosystem, where Mega Dice is establishing itself as a leader.

Furthermore, the project has also reached another milestone: the SuperCommunity on Telegram has exceeded 10,000 members. The community actively participates in daily discussions about the $DICE token, its various utilities, partnerships and provides valuable technical support.

Mega Dice: more than a casino

Mega Dice is standing out in the GambleFi industry, thanks to its $DICE token. Players can use it to play games, secure entry to exclusive competitions, and participate in a loyalty program that offers generous rewards and VIP experiences.

Furthermore, the strategic mechanism of buyback e burning in Mega Dice aims to maintain the token’s scarcity, so as to push the token’s value up over time.

To stay informed about the latest developments of the project you can follow the social channels of X/Twitter e Telegram. The presale is about to end, but it is still possible to participate. The DICE token is currently available at a price of 0.0866, but will increase in value soon.

Cryptocurrencies are highly volatile and unregulated. No consumer protection. Profit tax may apply.

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