Bitcoin Volatility Persists, Dips Below $71,000 Amid Strong Jobs Report
Bitcoin had significant volatility over the weekend, falling below $71,000 in response to a strong May employment report that surprisingly added 272,0
Bitcoin had significant volatility over the weekend, falling below $71,000 in response to a strong May employment report that surprisingly added 272,000 jobs and raised hopes for possible interest rate reductions in September. Despite the decline, Bitcoin is still above $69,000, indicating a cautious attitude among investors. The upbeat jobs news also caused a selloff in the larger cryptocurrency market, with meme currencies like GME suffering significant losses. The activity in the derivatives market increased, and at the same time, as inflows into spot Bitcoin ETFs persisted, positions in Bitcoin futures reached a record high of $37.7 billion. If Bitcoin breaks over $72,000 and completes an inverted headandshoulders pattern, analysts predict it might go for $83,000.
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B2B Tech News | 1 months ago