Bitcoin Swings $3,100 in Hours as Jobs Data Triggers Reversal
Bitcoin climbed from $84,500 to $87,200 over 15 hours, liquidating $216 million in short positions, before reversing sharply within an hour of weaker-than-expected unemployment data.
The pullback erased $3,100 in price and wiped out $278 million in long positions over five hours. Technical analysts are monitoring RSI levels as Bitcoin approaches key resistance, with the $90,000 level remaining in focus.
Bitcoin climbed from $84,500 to $87,200 over 15 hours, liquidating $216 million in short positions, before reversing sharply within an hour of weaker-than-expected unemployment data.
The pullback erased $3,100 in price and wiped out $278 million in long positions over five hours. Technical analysts are monitoring RSI levels as Bitcoin approaches key resistance, with the $90,000 level remaining in focus.