- USA sees worst job market yet, which could cause stock and market corrections.
- This falls perfectly in line with the September bearish red correction predictions.
- Despite the bearish sentiment, analysts remain bullish for crypto in Q4.
The crypto market and crypto community stand at a threshold, while some expect BTC market structure shifting to be a good bullish sign for a recovery, others highlight external signs which could push Bitcoin into a deep correction phase. One analyst sheds light on how the USA sees worst job market yet. This, along with the rate cut announcement, could push the crypto market into a strong correction state.
USA Sees Worst Job Market Yet
Over the past few weeks, analysts have been keeping a close eye on internal and external factors that could affect the crypto market. To start off, many saw the new ATHs set by BTC and ETH as a bullish sign in August; however, historical price data suggests a correction phase for the entire crypto market in the month of September, a month that traditionally has always closed in bearish red.
Meanwhile, the Fed hinted heavily at big rate cuts in September, an announcement that will likely be made in the latter half of September. This move could also lead to a sudden correction in crypto and stock prices, which can lead to a bearish red close in September. Despite the bearish expectations, analysts remain bullish in the long-term for Bitcoin and altcoins to set new ATH prices after the correction in Q4.
September Bearish Red Month Could Play Out Unchanged
On the other hand, a few analysts have highlighted a shift in the BTC market structure, suggesting that maybe a correction won’t take place after all. However, one analyst is sure that a correction will take place as the price of BTC should fall below the $100,000 price range, as far as $90,000, to close a critical CME Gap between the $90,000 and $95,000 price range. He then goes on to share another factor that could lead to a correction.
Doctor Profit, a reputed crypto analyst known for his many accurate market predictions, has repeatedly stated that the crypto market will see a brutal correction in September and has been preaching to traders not to fall for the fake exit pump that market makers have been making happen in the market presently. As we can see from the post above, he instead draws attention to another highly bearish signal.
In detail, he talks about how in the entire history of the USA, the country is currently having the worst job market yet. He says that today’s numbers are a shock to the market and will result in an increase in fear sentiment, which will then affect inflation numbers. He concludes by saying that inflation numbers will be worse in the coming days, meaning the stock and crypto markets could very well enter a deep correction state.