"NFP Data Boosts Bitcoin's Bullish Case, According to Crypto Derivatives Expert"

Despite the lack of significant upside momentum in Bitcoin following the release of weak US nonfarm payrolls data, market sentiment remains positive, with experts citing the decline in stock market volatility indices and the likelihood of the Federal Reserve not raising interest rates as catalysts for continued gains in the cryptocurrency. The recent data, which showed a slowdown in job creation and softened wage growth, suggests a potential end to Fed tightening and a positive development for risk assets like cryptocurrencies. Additionally, reduced volatility in traditional markets, particularly bonds, is alleviating liquidity stress and encouraging risk-taking. Bitcoin is currently trading at $34,890, representing a slight decline on the day.