The crypto market has been quite excited about the possibility of the United States Federal Reserve cutting interest rates in the remaining months of the year. This display of emotions could be seen in the last crypto market rally on the back of a positive Jackson Hole speech by Fed Chairman Jerome Powell.

A different reaction was felt across the cryptocurrency market after a weaker-than-expected Non-Farm Payroll (NFP) data was released on Friday, September 5. However, the general consensus seems to be that this latest weak job data release could be rather positive in terms of interest rate cuts.

Weak Labor Data Increases Likelihood Of Rate Cuts: Major Banks

The US labor market data released on Friday was weaker than expected, as only 22,000 jobs were added to the economy in August,

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