Bitcoin: Analyst sets $25,000 BTC price target based on these two factors $BTC
Bitcoin might go up to $31,000 in a bullish target or drop further to $25,000 in a bearish scenario. At the time of writing, Bitcoin was down 2.26% at $27,916 as investors assessed recent labor market data to determine whether a recession might be on the horizon.
The jobs department reported on Thursday that there were 228,000 jobless claims for the week ending April 1, which is an indication that the labor market is under pressure.says a key metric — the value of fees — suggests new demand might be entering the market. One method to gauge rising demand in the market is the value of fees investors are willing to pay to process their transactions.
Currently, the 90d SMA 🔴 for fees is outpacing its yearly average 🔵, suggesting new demand is entering the market.
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