Important points
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US employment market is “still holding up” The non-farm employment data is higher than expected.
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Bitcoins and stock prices are on the rise as US President Donald Trump calls for a reduction in interest rates by the Fed.
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BTC’s price movement may cause a flurry of activity. “liquidity grab” Above $97,000 is a warning from a broker.
BitcoinBTCThe US Nonfarm Payrolls Data beat the expectations.
Bitcoin meanders after nonfarm payrolls beat
The Data of Cointelegraph Markets Pro You can also find out more about the following: TradingView BTC/USD grew to over $97,000 after the market digested macro data from a busy week.
The nonfarm payrolls showed that 177,000 new jobs were added in April. This is significantly more than 140,000 predicted.
“The labor market is still holding up,” The Kobeissi Letter: A trading resource wrote Part of a response to X
It is less optimistic for risk and crypto as this result indicates that the labor force is better able to withstand tighter financial conditions including higher interest rates than was expected.
The US Federal Reserve can then keep these conditions longer in place, denying the markets the liquidity boost associated with low rates.
Despite this, the S&P 500 and Nasdaq Composite Index were both up more than 1.3% on the day at the time of writing.
The author, in his own words: latest post on Truth Social, meanwhile, US President Donald Trump reiterated calls on the Fed to cut rates — an approach adopted throughout His ongoing implementation of tariffs on trade.
“Consumers have been waiting for years to see pricing come down. NO INFLATION, THE FED SHOULD LOWER ITS RATE!!!” The post referred to inflation rates in part.
The following are some of the ways to get in touch with us. Cointelegraph reportedThe next Fed rate decision will be made on 7 May, and the markets are expecting no changes to the existing regime. CME Group has released the latest market data. FedWatch Tool Probabilities of a next-week cut are just 2%.
BTC Price Warning “liquidity grab”
Bitcoin market participants are watching for sellers to respond to the weekly pushes up.
Related: Bitcoin hodler unrealized profits near 350% as $100K risks sell-off
“Going to be an interesting day ahead,” The popular Skew trader told X follows along with a chart of the liquidity in exchange order books.
“Sellers have been defending $97.2K & shorts continue to scale into price. Passive spot flow will probably again decide the trend.”
Daan Crypto trades, a fellow trader, warned that the current highs in local markets may be a way to get liquidity ahead of a reverse.
“$BTC Broke out of the $93K to $96K range after price action got compressed for about a week,” Part of an X-post read Prior to the release of macro data.
“So far it’s a similar setup as the week before, but I wouldn’t want to see it trade back into that $93K-$96K range or this would just be a liquidity grab.”
TheKingfisher, a popular trader who is known for his short-term decline to $95,000 was attributed by him to bid liquidity.
Rekt, an analyst and trader, has set the price of BTC for end-of-week at $99,000.
“If Bitcoin continues to hold above $93,500 (as it has been thus far), then price will be positioned for a move across the range,” He explained Alongside the daily BTC/USD charts the day before.
“However, it’s key that $BTC breaks the black Lower High resistance within this Range which is positioned at ~$99k this week.”
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Source: cointelegraph.com
