• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Bitcoin Falls 5% After US Employment Data Release

user avatar

by Giorgi Kostiuk

3 months ago


Following the release of US employment data, Bitcoin's price fell by 5%, causing market disruptions.

Impact of Economic Data on the Market

The Job Openings and Labour Turnover Survey (JOLTS) indicated an increase in job openings to 8.1 million in November, triggering a drop in Bitcoin's price to $97,000. This increase in job numbers reduces the likelihood of interest rate cuts by the Federal Reserve, negatively impacting risk assets.

Position Liquidation and Volatility

Amid a price decline exceeding 5%, Bitcoin long positions worth over $30 million were liquidated within an hour. Recent movements of large Bitcoin volumes to exchanges intensify selling pressure.

We're in the 'good data is bad data' phase of the market for risk assets.Miles Deutscher

Bitcoin Analysis and Predictions

Experts warn of potential further drops to $85,000-$90,000. However, improved regulation with upcoming US political initiatives is expected to support the cryptocurrency market in the mid-term.

The current state of the US economy continues to impact the cryptocurrency market. The market's future direction will depend on economic indicators and political developments.

0

Share

Other news

BYDFi 5th Anniversary: Innovation and Web3 in Focus

BYDFi celebrates its 5th anniversary: history of growth and Web3 adoption.

user avatarGiorgi Kostiuk

2 minutes ago

Ethereum Price May Drop Due to Weak Stock Market

Analyst Benjamin Cowen predicts Ethereum's price may decline owing to stock market weakness and macroeconomic factors.

user avatarGiorgi Kostiuk

3 minutes ago

Trump's Tariffs Shake Crypto and Global Markets

Trump's tariffs caused a sharp drop in crypto and global markets: Fear Index plummets to 25.

user avatarGiorgi Kostiuk

3 minutes ago

Qubetics Cryptocurrency: Interoperability and Growth Potential

Qubetics offers unique blockchain interoperability and promises high growth potential.

user avatarGiorgi Kostiuk

3 minutes ago

Cryptocurrencies in National Reserve: US Initiative

Donald Trump's announcement of a US crypto reserve including Bitcoin and Ethereum sparks a global discussion on digital assets.

user avatarGiorgi Kostiuk

4 minutes ago

XRP Price Update: Preparing for a Downturn?

XRP holds near the $2 level; market analysis shows potential shifts in the crypto market.

user avatarGiorgi Kostiuk

10 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.