$BTC $ETH $SOL
Tonight at 21:30, the nonfarm payrolls report is due. Expectations are for around 65,000 new jobs and a 4.2% unemployment rate. It’s not worth betting on the direction the night before the data comes out.
Yesterday, initial jobless claims came in at just 189,000, below expectations of 196,000. The data ran hot, and expectations for rate hikes have already risen.
If the data is strong, rate-hike expectations will strengthen and risk assets will remain under pressure. If it’s weak, expectations may ease, giving an oversold bounce a reason to happen.
BTC is now around 75,556, down from about 75,960 this morning—a drop of roughly $400 in half a day.
The 24-hour low was around 75,035. The 75,000 level was nearly tested, and the 50-week moving average at around 75,733 has already been breached.
ETH is around 2,227 and SOL around 89.2, both grinding lower along with it.
The takeaway is simple: before a major data release, check the levels first, then decide whether to act.
Price is now hovering around 75,000. Shorting or trying to catch the bottom here means betting on the market before the data comes out.
Wait for the 21:30 data: a move back above 77,000 would give the short-term weakness some breathing room; a break below 75,000 would take the weakness down another step.
These are my personal views and not investment advice. I’ll follow the data as soon as it comes out tonight—follow me for the next update.
Tonight at 21:30, the nonfarm payrolls report is due. Expectations are for around 65,000 new jobs and a 4.2% unemployment rate. It’s not worth betting on the direction the night before the data comes out.
Yesterday, initial jobless claims came in at just 189,000, below expectations of 196,000. The data ran hot, and expectations for rate hikes have already risen.
If the data is strong, rate-hike expectations will strengthen and risk assets will remain under pressure. If it’s weak, expectations may ease, giving an oversold bounce a reason to happen.
BTC is now around 75,556, down from about 75,960 this morning—a drop of roughly $400 in half a day.
The 24-hour low was around 75,035. The 75,000 level was nearly tested, and the 50-week moving average at around 75,733 has already been breached.
ETH is around 2,227 and SOL around 89.2, both grinding lower along with it.
The takeaway is simple: before a major data release, check the levels first, then decide whether to act.
Price is now hovering around 75,000. Shorting or trying to catch the bottom here means betting on the market before the data comes out.
Wait for the 21:30 data: a move back above 77,000 would give the short-term weakness some breathing room; a break below 75,000 would take the weakness down another step.
These are my personal views and not investment advice. I’ll follow the data as soon as it comes out tonight—follow me for the next update.
