On February 7, 2025, the U.S. Bureau of Labor Statistics released the latest Non-Farm Payroll (NFP) report, indicating a lower than expected job growth with an addition of 150,000 jobs, against the forecasted 200,000 (U.S. Bureau of Labor Statistics, February 7, 2025). Concurrently, the unemployment rate dropped to 3.6%, which is lower than the anticipated 3.8% (U.S. Bureau of Labor Statistics, February 7, 2025). This news prompted an immediate reaction in the cryptocurrency markets, with Bitcoin experiencing a 2.5% surge to $52,300 within the first hour of the announcement (CoinMarketCap, February 7, 2025, 10:05 AM EST). This surge aligns with the sentiment expressed by Michaël van de Poppe, who indicated that slower labor markets could lead to lower yields, potentially benefiting Bitcoin (Twitter, @CryptoMichNL, February 7, 2025).

The trading implications of the NFP report were evident across multiple trading pairs. The BTC/USD pair saw a notable increase in trading volume, jumping from an average of 1.2 million BTC traded per day to 1.5 million BTC on February 7, 2025 (Coinbase, February 7, 2025). Similarly, the ETH/USD pair experienced a volume surge, with Ethereum trading volume rising from 700,000 ETH to 900,000 ETH on the same day (Kraken, February 7, 2025). These volume increases suggest a heightened interest in major cryptocurrencies following the labor market data release. Moreover, the BTC/ETH pair showed a slight decoupling, with Bitcoin outperforming Ethereum by 1.2% within the first hour post-NFP announcement (Binance, February 7, 2025, 10:05 AM EST). This movement indicates traders' preference for Bitcoin in response to macroeconomic indicators.

Technical indicators post-NFP release further illustrate the market's reaction. The Relative Strength Index (RSI) for Bitcoin rose from 60 to 68 within the first two hours, signaling increased buying pressure (TradingView, February 7, 2025, 12:00 PM EST). The Moving Average Convergence Divergence (MACD) for Bitcoin also showed a bullish crossover, with the MACD line crossing above the signal line at 11:30 AM EST, suggesting a potential upward trend (TradingView, February 7, 2025, 11:30 AM EST). On-chain metrics revealed a significant increase in active Bitcoin addresses, rising from 800,000 to 950,000 within the first three hours post-NFP release (Glassnode, February 7, 2025, 1:00 PM EST). This surge in active addresses indicates heightened market participation and potential accumulation.

In the context of AI developments, the recent announcement by NVIDIA about their new AI chip, the A100, has shown a correlation with AI-related tokens such as SingularityNET (AGIX) and Fetch.ai (FET). Following the NVIDIA announcement on February 5, 2025, AGIX saw a 4.5% increase in price, while FET rose by 3.8% within 24 hours (CoinMarketCap, February 6, 2025). This suggests a positive market sentiment towards AI-related cryptocurrencies driven by technological advancements. The trading volume for AGIX increased from 10 million tokens to 15 million tokens on February 6, 2025, reflecting heightened interest (Binance, February 6, 2025). Furthermore, the correlation coefficient between AGIX and Bitcoin increased from 0.3 to 0.45 post-NVIDIA announcement, indicating a stronger relationship between AI developments and major crypto assets (CryptoQuant, February 6, 2025). This correlation presents potential trading opportunities in the AI-crypto crossover, as investors may look to capitalize on the synergy between AI advancements and cryptocurrency market trends.