Bitcoin Price Remains Steady Amidst Mixed U.S. Jobs Data
Bitcoin prices have remained steady amid U.S. jobs data indicating lower job growth than expected. Currently trading at $97,783.95, Bitcoin shows a daily increase of 0.48%, despite a weekly decline of 6.50%. The market is reacting cautiously as trading volumes rise and liquidations remain balanced, while traders monitor key price levels amidst economic uncertainty.
In response to the U.S. jobs report, Bitcoin (BTC) has maintained a relatively stable price, currently trading at $97,783.95. After experiencing fluctuations between $95,707.35 to a high of $100,154.14 in the past 24 hours, it has recorded a slight gain of 0.48% over the previous day. Nonetheless, Bitcoin remains 6.50% lower than last week, highlighting the ongoing uncertainty in the market.
Recent data from the U.S. Department of Labor indicates that only 143,000 new jobs were added in January, falling short of the anticipated 170,000. This mixed economic outcome includes a decline in the unemployment rate from 4.1% to 4.0%, complicating the labor market interpretation. Such employment figures often sway market sentiment regarding Federal Reserve interest rate policies, affecting risk assets like Bitcoin.
The Bitcoin market is currently in a phase of cautious activity as traders anticipate potential price movements influenced by macroeconomic conditions. The price struggles near the significant $100,000 level can either propel it through resistance or lead to a retreat toward $95,000 support. Future market trajectories will heavily rely on regulatory updates and broader economic conditions.
Original Source: news.bitcoin.com
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