Bitcoin buyers may get a chance to “load” below $22,000 according to employment statistics
Bitcoin
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$22,444
It fell before the February 3 Wall Street open as new US economic data came in “hot, hot, hot.”
“Think again” about the US recession.
Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it pared gains from the previous day towards $23,000 support.
The pair reacted negatively to the US unemployment data in January. Much higher than expected, the overall unemployment figure fell to the lowest level since 1969.
Non-farm payrolls (NFP) data also performed better. While the average hourly earnings are in line with the growth forecast of 0.3%.
“Lots of wins on NFP,” popular analysis account Tedtalksmacro responded on Twitter.
Returning to the forecast from the previous day, Tedtalksmacro noted a possible opportunity to increase Bitcoin risk due to the recent decline, which said that it could bring BTC / USD to $20,000.
“Possibility to refresh this news,” the tweet added.
Bitcoin’s cold feet come as a result of a stronger-than-expected labor market allowing the Federal Reserve to maintain tighter, less restrictive financial conditions for an extended period of time.
“Does the US economy go into recession? Think again, at least not in the short term,” continued economist and analyst Jan Wüstenfeld.
Bitcoin Worth $25,000 Now “Dense Exchange”
According to Cointelegraph, the Fed raised interest rates by 0.25% this week, in line with most expectations. While President Jerome Powell fueled the excitement by using the term “inflation” in comments
Related: Bitcoin bulls must hold these 2 levels as ‘death cross’ remains looming
As a result, BTC/USD rose above $24,000 for the second time in as many days. Market participants are still hoping for a trip to $25,000 before a major reversal.
“BTC has a clear break above the downtrend line of the macro + backtest,” said Game of Trades research resource.
“The next big resistance that needs to be cleared is the $25,000 area.”
Popular Crypto trader Tony admits that the goal may not be realistic.
“$25,000 is my main goal. But now it seems that many people are asking for this. And it has become more trading,” he wrote in part for today’s latest update.
