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Non-Farm Payroll (NFP) data can significantly impact financial markets, including cryptocurrencies, even though it primarily pertains to employment statistics in the U.S. economy. Here's how it influences the crypto market: 1. Market Sentiment - **Risk Appetite**: NFP data gives insights into the overall health of the economy. Strong job growth can increase risk appetite, leading to higher investments in riskier assets like cryptocurrencies. - **Fear and Uncertainty Poor NFP results may create uncertainty or fear in broader markets, which can lead to a sell-off in both traditional assets and . 2.Interest Rates - Federal Reserve Decisions NFP data affects the U.S. Federal Reserve's monetary policy. Strong job numbers may lead to tightening monetary policy (increased interest rates), which could negatively impact crypto prices. Conversely, weak job numbers can lead to a more accommodative stance from the Fed, potentially supporting crypto prices. 3. Inflation Concerns - Inflation and Dollar Strength NFP data can influence inflation expectations, which in turn impacts the strength of the U.S. dollar. A strong dollar often leads to a bearish outlook for cryptocurrencies, while a weaker dollar can boost their attractiveness as alternative assets. 4. Correlation with Other Markets - Equity Markets Since many investors treat cryptocurrencies similarly to stocks, movements in equity markets following NFP data releases can also influence crypto prices. For instance, if stocks rally on strong NFP data, cryptocurrencies might follow suit. 5. Volatility - Increased Trading Volume During and shortly after the NFP announcement, trading volumes can spike, leading to increased volatility in the crypto market. Traders often react quickly to the news, leading to rapid price movements. 6. Speculation and Trends - Speculative Trading Many traders try to predict the NFP results and place trades in advance, adding another layer of volatility.

The Japanese Financial Services Agency intends to treat crypto assets as financial products similar to securities, and plans to implement tax cuts and approve Bitcoin spot ETFs. The new system also considers lifting the ban on Bitcoin spot ETFs and may reduce the current tax rate of up to 55% to 20%. It is expected that the system reform policy will be announced in June and the legal amendment will be promoted at the 2026 ordinary session of the National People's Congress.

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