According to Omkar Godbole (@godbole17), Bitcoin is currently behaving as a macro asset, reacting to significant economic data and changes in monetary and fiscal policies. Traders are closely watching for Powell's testimony and Wednesday's CPI data, which could influence Bitcoin's price movements.

According to GreeksLive, U.S. initial jobless claims for the week were recorded at 233,000, marking a new low since July 6th. The U.S. economic data has shown erratic behavior this quarter. Despite skepticism about the authenticity of the data, the low jobless claims could influence market sentiment, potentially affecting cryptocurrency trading strategies.