Crypto could see a trend change on soft payrolls data, Alex Krüger expects

Crypto could see a trend change on soft payrolls data, Alex Krüger expects
Crypto trend hinges on payrolls outcome

Alex Krüger, economist and cryptocurrency trader and influencer, expects a trend change in the crypto market if the latest payrolls data turns out to be soft.

If the shift does not occur today, Krüger notes that the trend change could be delayed until the market starts pricing in higher odds of no hike at the July FOMC, with the next key catalysts for such repricing being the FOMC minutes.

Krüger has previously highlighted his skepticism of the sector, describing crypto as a failed asset class due to issues with value accrual and problematic founder behavior in earlier commentary. He has also compared speculative tradeoffs, questioning if spending on experiences today is worth more than holding assets like Ethereum for potential long-term gains, as discussed in his analysis of ETH's future value. These views provide context for his latest outlook on shifting market trends.

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