US jobless claims hint on stability as bitcoin reached the ‘Inflection Point’ at $ 85k
The latest US claiming data that unemployed arrived at 215,000, below the estimated hopes of 225,000, on April 17. Sinking of unemployed claims indicated that the US manufacture market remained stable, with fewer people affected by the uncertainty of US tariffs. Initial claiming unemployment is a leading economic indicator that measures US economic health and it often affects investor sentiment around risky assets such as bitcoin (BTC).
The stability of the labor market is behind the recent comments of Federal Reserve Chair Jerome Powell about the impact of tariffs. At a press conference at Chicago’s Economics Club on April 16, Powell said,
“The level of the tariff increases revealed to this day is greater than expected. Both are likely to be true to economic effects, which will incorporate increased inflation and slower growth.”
The Fed Reserve Chair also said the Fed had no plans to intervene in bailouts on the market or implement rate cuts in the near future. This stance aligned with his earlier comments from April 4, 2025, when he noted that it was “too easy” to consider the rates, reflecting the Fed’s careful approach amid continuous economic uncertainty.
However, the European Central Bank cut off interest rates at 2.25% from 2.50% to combat economic pressure from US trade tariffs. According to Data, The ECB has taken borrowing costs to its lowest level since late 2022, with the current cutting rate marking its seventh reduction for a year’s duration.
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Bitcoin remains at a point of inflection, says analyst
For risk ownership such as Bitcoin, the recent US unemployed claims data dependent on a short time, as a powerful labor market reduces the likelihood of rate cuts, supporting speculative investments.
BTC prices have been combined with a tight range in recent days, not to overcome above the $ 86,000 level. In this regard, unidentified crypto businessman Titan of Crypto said Bitcoin is at a “point of inflection”.
A point of trading inflection is a critical juncture in which the direction or momentum of the market can move significantly. This is a moment where the balance between buyers and sellers reaches a tipping point, which often leads to a return or acceleration in the trend. The businessman said,
“Point of Bitcoin’s inflection. In the 1H chart, the BTC contracted within a triangle and was about to choose a direction. The RSI was above 50 and attempted to break its resistance. A move was breaking the beer.”
Order flow trader magus mentioned That bitcoin was combined -integrated between $ 83,700 and $ 85,200. For the bullish momentum to proceed, the BTC should break above $ 85,000 as soon as possible, as the long -term chart indicates potential bearish risks if this level is not exceeded.
Related: Bitcoin price levels to watch such as Fed Rate Cut Hopes Fade
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
