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Bitcoin gains on poor employment in the United States with a concentration of $ 108,000

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Main points:

  • Private sector jobs in the United States decreased by more than 4 % in June-the largest decrease since March 2023.

  • Bitcoin sees relief, and builds on a recovery that has begun in the trap of late short situations.

  • $ 108,000 is still the level of BTC price resistance in the short term.

Bitcoin (BTCHe touched $ 108,000 in Wall Street Open on July 2, when Miss Miss in the United States sparked fluctuations.

BTC/USD 1 hour graph. Source: CointeleGRAPH/TradingView

Bitcoin currency is due to twice the labor market

Data from Cointelegraph Markets Pro and Tradingvief BTC/USD showed 2 % a day at the time of writing this report.

The gains were accompanied by a sudden decline in salary statements data in the private sector, which came at 33,000 in June to reach its lowest level since March 2023. The automatic data processing estimates (ADP), which collected data in the National Employment Report, has seen an increase of about 100,000.

“Although layoffs are still rare, the frequency of employment and reluctance to replace the departed workers has led Compatible press release.

“However, the slowdown in employment has not disrupted the growth of wages yet.”

Change private employment in the United States. Source: adp

We have non -agricultural salary data, because of its release on July 3, Crypto Market suspended commentators were optimistic. They pointed out that the weakness of the labor market has increased the possibilities of discounts in the rate of interest in the field of federal reserves soon and not later-a major source of liquidity injection of bitcoin, Qu9 and risk assets.

“The cuts in the prices of the Federal Reserve are increasingly possible in July …”, Andre Dragush, head of European Research at the Director of Crypto Bitwise, books In part of X.

The risk of average average in the Federal Reserve (screen shot). Source: CME Group

like Cointelegraph continues to reportThe resistance of the Federal Reserve officials for price discounts led to an uprising from Washington, including from US President Donald Trump, who this week demanded that prices decrease to 1 % or less.

Latest data from the CME’s collection Fedwatch tool The market morale that has not changed from the ADP numbers appears, as the Federal Reserve Bank meeting is still preferred for the next cut.

The BTC price passes the main level of “Supreme Clouds”

Among the merchants, attention was once again focused on the liquidity of the exchange book.

Related to: Bitcoin profit achieves BTC price point with a key of $ 140,000: search

The batch to $ 108,000, data from a monitoring resource Coinglass It revealed, began to liquidate a large cloud of short situations.

BTC Filtering Map (Screen Screen). Source: Coinglass

Before the event, the famous Thinkfisher suspended x $ 108,000 as one of the many “magnets” surrounding the spot.

“Less than the current price, the long qualifiers are significantly lighter up to 104000-105,000, which shows a clear imbalance. This setting involves stronger upward clouds if the price exceeds 107 thousand He said X followers.

The famous analyst Matthew Hilland described BTC price BTC Week As far as “seizure of liquidity”, with short pants now pay the price.

Despite the increasing predictions of the highest new levels ever in July, It lasts 108,000 dollars at work as a local resistance BTC/USD level.

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.