U.S. Labor Data And Russia’s Digital Ruble Launch Drive A High-Stakes Crypto Week

TL;DR

• U.S. labor data will dominate the week, with Friday’s August jobs report shifting expectations for a September Federal Reserve rate hike and influencing Bitcoin.
• Russia begins the first large-scale digital ruble rollout phase on September 1 while consultation closes on a proposed framework for ruble-denominated stablecoins.
• Bitcoin remains below resistance above $80,000 as geopolitical tension rises, while large holders accumulated about 60,000 BTC during August despite selling by smaller wallets.

U.S. labor data and Russia’s digital ruble rollout are set to dominate a consequential week for crypto markets as September begins. Friday’s August jobs report is the main macro event, after July nonfarm payrolls fell by 23,000 and earlier months were revised lower. The central tension is whether fresh labor weakness cools expectations for a September Federal Reserve rate hike or strengthens the case for tighter policy. Markets currently assign just under a 60% probability to a 0.25% increase, making every employment release unusually important for rates, Treasury yields, the dollar and Bitcoin for investors.

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