Nonfarm payrolls blew past expectations with 165,000 new jobs. Bitcoin was first kicked down to $74,722, its lowest point since August, then climbed back to $75,800.
The U.S. Department of Labor announced Friday that nonfarm payrolls rose by 165,000 in October, versus expectations of just 65,000, while the unemployment rate fell to 4.1%.
As soon as the data came out, the odds of a December rate hike shot up to nearly 80%. The crypto market had barely recovered from Thursday’s hit before taking another one.
The Nasdaq plunged 5.5% on Thursday, and Bitcoin gave back all its gains since the midterm elections in a single day. Liquidations totaled $1.25 billion over 24 hours, 90% of them long positions.
But Friday’s action was interesting: Bitcoin quickly bounced back after hitting $74,722, the Nasdaq rebounded 1.09%, and Bitcoin closed at $75,790, down just 0.2% on the day.
I think the market has already chewed over the words “rate hike” enough. What’s really scary is Thursday’s indiscriminate sell-off, not a single jobs report.
The key level to watch is $75,000. Hold it, and we’re range-bound; lose it, and the 200-day moving average near $73,200 is next. To the upside, $76,950 comes first. It won’t be out of the woods until it gets above $80,000.
Which side are you on this time: buying the dip at $75,000, or waiting to see if it breaks lower?
$BTC
#比特币 #FederalReserve
The U.S. Department of Labor announced Friday that nonfarm payrolls rose by 165,000 in October, versus expectations of just 65,000, while the unemployment rate fell to 4.1%.
As soon as the data came out, the odds of a December rate hike shot up to nearly 80%. The crypto market had barely recovered from Thursday’s hit before taking another one.
The Nasdaq plunged 5.5% on Thursday, and Bitcoin gave back all its gains since the midterm elections in a single day. Liquidations totaled $1.25 billion over 24 hours, 90% of them long positions.
But Friday’s action was interesting: Bitcoin quickly bounced back after hitting $74,722, the Nasdaq rebounded 1.09%, and Bitcoin closed at $75,790, down just 0.2% on the day.
I think the market has already chewed over the words “rate hike” enough. What’s really scary is Thursday’s indiscriminate sell-off, not a single jobs report.
The key level to watch is $75,000. Hold it, and we’re range-bound; lose it, and the 200-day moving average near $73,200 is next. To the upside, $76,950 comes first. It won’t be out of the woods until it gets above $80,000.
Which side are you on this time: buying the dip at $75,000, or waiting to see if it breaks lower?
$BTC
#比特币 #FederalReserve
