The likelihood of a significant rate cut by the Federal Reserve in September rises

According to Jinshi Data, the seasonally adjusted non-farm payrolls in the United States increased by 142,000 in August, marking the largest rise since June this year; the unemployment rate in the United States in August was 4.2%, aligning with market expectations, the lowest since June this year, and the first decline following four consecutive months of increase.

U.S. short-term interest rate futures fell after the release of employment data; traders increased their bets that the Federal Reserve will implement a 50 basis point interest rate cut in September. Interest rate futures traders expect the probability of the Federal Reserve cutting interest rates by 50 basis points in September to be about 55%, while the probability of a 25 basis point cut is 45%.

Bitcoin then rose 1.18% in the short term, standing above $56,500, with a daily increase of 1.13%.