Bitcoin

The post Bitcoin Drops as US Adds 272K Jobs, Unemployment Hits 4% appeared first on Coinpedia Fintech News The US employment data revealed that the country added 272,000 jobs in May, exceeding market expectations. However, the unemployment rate rose to 4%, surpassing the anticipated 3.9%, indicating mixed economic signals. Additionally, US hourly wages increased by 0.4% in May. The market will now closely watch next week’s key inflation data, including the US CPI and PPI. The latest report by the…

Bitcoin traders are upbeat, confident that bulls have more legs to push prices above $72,000 and all-time highs. While the excitement about what lies ahead is primarily due to the mass inflow into spot Bitcoin exchange-traded funds (ETFs), Charles Edwards, the founder of Capriole Investments, has picked out multiple factors capping the current uptrend to $100,000. Here’s Why Bitcoin Is Still Trading Below $100,000 In a post on X, Edwards said several factors combine to suppress gains. However, most relate…

Philip Swift, the founder of the on-chain analytics platform LookIntoBitcoin, recently highlighted the significant increase in global liquidity, which just hit a new all-time high (ATH). Swift suggested this was a crucial indicator of how Bitcoin can rise in this bull run.  The Most Important Indicator For Bitcoin Swift claimed that the global liquidity was the “most important” chart in this bull run while revealing that it had just hit a new ATH. The chart he shared showed that the…

The US nonfarm payroll figures were released earlier on Friday, showing that 272,000 new jobs were created in May. The market was taken aback by these figures and Bitcoin fell around 1.8%. Surprising employment data When the US agencies responsible for economic data publish their figures it is surprising that the market reacts at all these days. Figures that have buoyed the market by how unexpectedly good they are, are subsequently revised in the opposite direction some weeks later without…

The Bitcoin recent foray into $70,000 price territory has again become a hot topic among investors, with many looking at a positive price outlook. As a result of this fascinating price action, the vast majority of long-term holders have seen their holdings cross into profit zone. Particularly, the positive outlook seems to be positive among US-based investors, as shown by the Coinbase premium turning positive. Some see the return of the Coinbase premium as a bullish signal that could continue…

Just yesterday, the US spot Bitcoin ETFs recorded the second highest inflow since its inception, with a whopping sum of over $887 million. This marks the largest inflow since the 12th of March 2024. Amid this remarkable feat, analysts predict the best cryptos to buy and this includes KangaMoon and Ethereum as these top crypto coins are expected to rally soon. KangaMoon Is One Of The Best Cryptos To Buy With a record 10,000 token holders in the ongoing presale,…

The recent US jobs report has significantly impacted the cryptocurrency market, wiping out over $500 million in Bitcoin open interest. This drastic market movement comes after mixed signals from the latest employment data. US Jobs Report Slashes Bitcoin Open Interest The US Bureau of Labor Statistics reported that May saw an increase in hiring by 272,000 in the establishment survey. However, the household survey indicated a drop in employment and a rise in unemployment, which climbed to 4.0% — the…

The current situation for Bitcoin (BTC) reveals a pronounced demand shock, with prices steady at around $71,000. Demand from institutional investors, especially through spot Bitcoin Exchange-Traded Funds (ETFs), fuels this increase. Spot Bitcoin ETFs have experienced unprecedented net inflows. For the past 18 days, they have recorded continuous positive inflows, the longest streak since their inception. Is Bitcoin Awaiting Explosive Price Growth? Among Bitcoin ETFs, BlackRock’s iShares Bitcoin Trust (IBIT) is particularly noteworthy. It accumulated $350 million on Thursday, the…

Bitcoin prices are set to surge following the European Central Bank’s (ECB) decision to initiate its first interest rate cut in five years yesterday. The unanimous vote by all 20 national representatives slashed rates by 0.25%, marking a significant shift in monetary policy for the Eurozone. Coupled with projections of slowing inflation and modest economic growth, this move has sparked intense speculation in the crypto market, with many analysts predicting a notable rise in Bitcoin prices. ECB Pivots Towards Growth…