Bitcoin Nears Highest Level Since January at $87,000
Bitcoin rose toward $87,000 after a $85,000 sell wall cleared, per Glassnode data cited by The Block, as weak US jobs data added fuel to the rally.
If weak labor data keeps pushing bitcoin higher, what does that say about crypto's role during economic uncertainty? Markets have historically treated bitcoin as a risk asset that falls alongside stocks on bad economic news. A rally built on disappointing jobs numbers raises a different question. Is bitcoin starting to trade more like a safe haven, or is this a short term reaction to looser rate cut expectations?
https://www.bonuz.xyz/en/blog/bitcoin-nears-87000-highest-since-january
Bitcoin rose toward $87,000 after a $85,000 sell wall cleared, per Glassnode data cited by The Block, as weak US jobs data added fuel to the rally.
If weak labor data keeps pushing bitcoin higher, what does that say about crypto's role during economic uncertainty? Markets have historically treated bitcoin as a risk asset that falls alongside stocks on bad economic news. A rally built on disappointing jobs numbers raises a different question. Is bitcoin starting to trade more like a safe haven, or is this a short term reaction to looser rate cut expectations?
https://www.bonuz.xyz/en/blog/bitcoin-nears-87000-highest-since-january
