U.S. unemployment numbers spark a BTC bounce over $21,000.
BTC/USD order book data . Source: Material Indicators/TwitterMaterial Indicators, which provided the order book charts, noted that above-expected United States unemployment figures may be aiding risk assets by increasing the chances of a Federal Reserve interest rate pivot.
“Unemployment came in at 3.7% which is 0.2% higher than forecasted and BTC whales see it as a sign that FED rate hikes may be working,” it“Note, that one month’s report doesn’t make a trend, but right or wrong, this market reacts to every data point.” Zooming out, popular Twitter account Bitcoin Bull reiterated a characteristically positive take on BTC price action, arguing that cycle lows were near.
“This was just a pullback from a bigger bullish extension. The major peak is not in yet, but the bottom zone is here,” a tweet read.$30,000 on the cards for NovemberAnalyst puts Bitcoin price at $30K next month with breakout dueThe U.S. dollar, meanwhile, lost ground, with the U.S. dollar index dropping to 111 support from 113 in a single day.
“$DXY is tanking. Yields are ready to drop. Bitcoin at $21K,” Michaël van de Poppe, founder and CEO of trading firm Eight,
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