Market Analysis by Investing.com (Günay Caymaz) covering: Bitcoin. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Bitcoin teeters on key support as traders brace for pivotal U.S. jobs data.Will today’s Nonfarm Payroll report spark a rebound or deepen the correction?data. After a volatile week marked by a 10% slide, all eyes are on whether the upcoming jobs report could tip the scales for the world’s largest cryptocurrency.
Adding to the pressure, the U.S. Department of Justice announced plans to liquidate $6.5 billion in Bitcoin seized from Silk Road. This news came against the backdrop of speculation about Donald Trump’s potential return to office. Trump had previously championed Bitcoin-friendly policies, including creating a U.S. Bitcoin reserve. The prospect of a large Bitcoin sale before his potential presidency spooked the market, accelerating the decline.
However, failure to hold $92,800 could spell trouble. A break below this support risks a slide to $88,000, coinciding with the 3-month EMA. A further drop could target the Fib 0.618 level at $83,300, deepening the correction and shaking market confidence.This article is written for informational purposes only. It is not intended to encourage the purchase of assets in any way, nor does it constitute a solicitation, offer, recommendation or suggestion to invest.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
2 Key Catalysts That Could Fuel Bitcoin’s Next Bull Run Beyond $100KMarket Analysis by Investing.com (Günay Caymaz) covering: US Dollar Index Futures, Bitcoin. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Read more »
Bitcoin Hits Key Support – Can It Bounce Back or Is the Selloff Just Beginning?Market Analysis by Investing.com (Günay Caymaz) covering: Bitcoin US Dollar. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
Read more »
5 Metrics to Track for Maximum Bitcoin Bull Run GainsBitcoin (BTC) has hit $100,000, and this guide explores five key metrics to navigate the opportunities this bull market presents for crypto traders and investors. We examine BTC price and market capitalization, Bitcoin Open Interest (OI), Bitcoin ETF flows, Bitcoin hashrate, and Bitcoin difficulty.
Read more »
Will Bitcoin See a Local Top at $115K Soon?Market Analysis by Dr. Arnout ter Schure covering: Bitcoin US Dollar, Bitcoin. Read Dr. Arnout ter Schure 's Market Analysis on Investing.com
Read more »
Bitcoin Breaks 100k: MicroStrategy Buys, Trump Effect and Musk’s X FactorMarket Analysis by MarketPulse (Zain Vawda) covering: Bitcoin US Dollar, Bitcoin, Coinbase Global Inc. Read MarketPulse (Zain Vawda)'s Market Analysis on Investing.com
Read more »
CNBC Investing Club with Jim Cramer: Key Moments from Friday's Morning MeetingCNBC Investing Club with Jim Cramer recapped key moments from Friday's 'Morning Meeting' livestream. The club discussed Wall Street's rally, Nvidia's performance ahead of CES, and the impact of the Surgeon General's alcohol advisory on Constellation Brands.
Read more »