According to crypto exchange Bitfinex, Bitcoin is holding near $35,000 as weaker US jobs data suggests the Fed will adopt a dovish stance.
The platform's analysts have recalled that, according to a report from the US Department of Labor, 150,000 new jobs were created in October, almost half as many as in September, when the figure stood at 297,000.
In addition, it is worth noting the employment statistics suggest that wage-driven inflationary pressures will begin to ease.
According to the report:
"We think that the central bank may be done raising rates primarily due to tightening financial conditions."
They have added:
"The central bank is well prepared for a long pause, giving the economy sufficient time to deal with the consequences of rising borrowing costs."