$BTC Analysis: Bitcoin Rejected at $93,500 Ahead of US Jobs Data. 📉

Bitcoin retreated from its $93,500 yearly open on Thursday. Stronger-than-expected US labor data, with weekly jobless claims below forecasts, pressured risk assets.

Despite this economic strength, investors still anticipate a Federal Reserve rate cut at the December 10 meeting. Analysts highlight the Fed's limited flexibility due to the gap between rising asset valuations and consumer purchasing power.

The Kobeissi Letter suggests the Fed may need to ease policy to support consumers, even with inflation near 3%. This comes as megacap tech stocks reach new highs, while consumers face mounting financial strain.

CME’s FedWatch tool shows an 89% probability of a third consecutive rate cut, reflecting market expectations. However, Mosaic Asset Company warns of divided long-term rate direction, which could create short-term volatility.

Against this macro backdrop, Bitcoin continues to lag equities. Key technical resistances lie ahead:
- $93,500 yearly open
- Liquidity near $100,000
- Major weekly SMAs and EMAs

Analysts at Material Indicators state BTC must break the $96,000-$98,000 band with a stable weekly RSI to confirm bullish trend continuation. 🚀

Order book data still indicates strong overhead supply. Bitcoin's failure to reclaim its yearly open reinforces a bearish tilt for now. ⚠️

BTC and major altcoins remain vulnerable. Traders are keenly watching for macro catalysts or significant liquidity shifts to provide the necessary momentum for recovery.

(BTCUSDT)