Will Bitcoin Bounce or Dump? All Eyes Are on This Week's Major Economic Events

Bitcoin began September under pressure after dropping below $77,000 following renewed military actions between the US and Iran. Crypto investors are now shifting focus toward major US macroeconomic reports scheduled throughout the week, which are expected to shape Federal Reserve monetary policy expectations ahead of the September 15-16 meeting. Key data releases include July JOLTS Job Openings, projected to slip to 7.27 million from 7.36 million, alongside August ISM Manufacturing PMI on Tuesday, followed by ADP employment figures on Wednesday. The main event arrives on Friday with the August US employment report, where economists forecast an addition of 58,000 jobs and an unemployment rate steady at 4.1%, recovering from July's unexpected 23,000 job contraction. A stronger-than-anticipated labor market could reinforce higher-for-longer rate sentiment, supporting the US dollar and Treasury yields to the detriment of risk assets like Bitcoin. Conversely, moderate cooling could provide relief, though severe weakness risks stoking broader recession concerns.