Bitcoin vacillates under $ 97,000, threatened by US employment figures above expectations. An overly robust labor market could indeed cause a new fall in the BTC. Also, this would keep the Fed in a strict monetary policy.
Bitcoin traders fear collapse under $ 95,000
Since the beginning of the month, the price of Bitcoin has shown signs of weakness. Concretely, it oscillates between $ 100,000 and $ 95,000. There recent correction of 3.5 % is explained by the fear of an explosive employment report in the United States.
According to prediction marketsthere would indeed be 28 % chance that more than 300,000 jobs were created in January. A figure much higher than the expectations of Wall Street, which was betting on 169,000 jobs!
Such an announcement would have a direct impact on the Fed, which could maintain high interest rates longer. What limit the attraction of risky assets like Bitcoin! There BTC volatility could then explode with a real risk of descending below the critical threshold of $ 95,000.
Bitcoin and liquidity: a market under tension before the Fed
Crypto traders also scrutinize Bitcoin liquidity markets. Currently, BTC liquidity surrounds $ 95,000 and $ 100,000. This means that the cryptocurrency market could evolve in this range as long as no external catalyst is triggered a stronger movement.
According to the Crypto Skew analyst, the BTC market is currently in a waiting phase, blocked by macroeconomic uncertainties.
Decryption:
As long as the Fed does not give clear signals on a possible drop in interest rates, The BTC trend will remain uncertain.
The tool Fedwatch CME Group also shows that the markets anticipate only a probability of 14.5 % of a rate reduction in March. Such caution strengthens pressure on the crypto market, leaving doubt to The immediate future of Bitcoin.
Bitcoin traders will therefore have to carefully monitor the next macroeconomic indicators as well as Fed announcements. The crypto market could experience an eventful week, between panic and opportunities to seize for the most informed.
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