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Bitcoin At Crucial Support Level Ahead of NFPs
Bitcoin prices are attempting to recover today following heavy across the last four days. BTC futures fell almost 12% from Monday’s highs as a hawkish shift in Fed expectations fuelled a resurgence in USD. Better US data, on the back of hawkish Fed guidance at the December FOMC, saw traders scaling back their Q1 rate-cut expectations. With USD strengthening as a result, BTC was sharply sold seeing the market trading back down to a test of the 91,750 level which has been key support since the November breakout. Price is stabilising for now, however, downside risks remain into US labour market data later today. US ... (full story)
