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Major Economic Data Releases Tomorrow — How Would Bitcoin Respond?

▪ Bitcoin has started the third quarter mutely as its price fluctuates in a small $6-range.
▪ The cautious sideways movement surfaces ahead of the U.S. Non-Farm Payrolls (NFP) report releasing on Thursday.
▪ Observers expect a recovery of at least 3 million jobs in June, a piece of news that may help the S&P 500 and Bitcoin continue its rally into the new week.

The price of Bitcoin on Wednesday rose modestly, signaling that the cryptocurrency will start the third quarter on a cautious note after closing the previous one more than 40 percent higher.

The BTC/USD exchange rate surged 0.16 percent to circa $9,151 on hopes that Federal Reserve would continue its stimulus program beyond the July expiry. The climb, nevertheless, failed to turn into an extended upside move as traders also assessed the rising number of COVID cases and its impact on the U.S. economy.