• 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

a year 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

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

ZachXBT Raises Concerns Over Humanity Protocol Incident

chest

ZachXBT raises concerns about the Humanity Protocol incident, suggesting it may be a staged exit rather than a genuine hack, impacting the project's credibility.

user avatarElias Mukuru

Humanity Protocol Faces Catastrophic Security Incident

chest

On June 9, 2026, Humanity Protocol experienced a severe security breach resulting in a loss of approximately $32 million and a 90% drop in the H token's value.

user avatarDiego Alvarez

Charles Hoskinson Envisions Cardano as Global Trust Infrastructure

chest

Charles Hoskinson envisions Cardano as a global trust infrastructure, aiming to reduce reliance on trusted third parties and redefine trust in global commerce.

user avatarKenji Takahashi

Cardano's Unique Approach to Decentralization and Governance

chest

Cardano's unique features include its decentralization model, modularity, and governance challenges, as discussed by Charles Hoskinson.

user avatarMaria Fernandez

Ripple's Upcoming Lending Protocol Undergoes Formal Verification

chest

Ripple is applying formal verification to its upcoming lending protocol to uncover complex edge cases missed by conventional testing methods.

user avatarGustavo Mendoza

RippleX Developers Announce New Focus on Formal Verification for DeFi Protocols

chest

RippleX Developers announced a shift in formal verification focus to new DeFi protocols, ensuring protocol correctness before deployment.

user avatarRajesh Kumar

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.