January 10 marks a significant day for cryptocurrency enthusiasts, with critical data set to be released shortly. The importance of the Federal Reserve’s interest rate cuts for cryptocurrencies has been extensively discussed. The December meeting was particularly disappointing for market expectations. As the crucial data release approaches, questions arise: Why are these numbers so essential, and what are the forecasts? Will cryptocurrencies see a rise?

US Data and Cryptocurrency Impact

Since January 5, we have emphasized the importance of this Friday. The JOLTS data released on Tuesday caused a significant drop in cryptocurrencies. However, the ADP Employment Change data released on Wednesday provided some relief. The market was briefly shaken by insider information regarding the sale of Silkroad BTC ($101,571.00).

We have previously noted that the Wednesday data serves as a leading indicator for the Non-Farm Payroll figures. Two critical pieces of information will be released shortly: the US Unemployment Rate and Non-Farm Employment. Both metrics will be published exactly one hour before the US market opens.

Late January Cryptocurrency Surge

In a market analysis released by Daan Crypto Trades, it was s...