Bitcoin hits the new 10-week high as Trump demands the rate of cutting on US jobs to beat
Basic Points:
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The US manufacture market “still remains” because nonfarm payroll data is higher than expected.
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Bitcoin’s head and stock are higher as US president Donald Trump repeats calls for Fed with less interest rates.
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BTC price action can spark a “Liquidity Grab” above $ 97,000, warned by an entrepreneur.
Bitcoin (Btc) Press new multimonth highs after May 2 Wall Street Open as US Nonfarm Payrolls Data Defeat expectations.
Bitcoin meanders after nonfarm payroll beat
Data from Cointelegraph Markets Pro and Tradingview The BTC/USD building showed at $ 97,000 as markets dug the latest on a bumper week of MacRO data.
Nonfarm payrolls indicated 177,000 jobs added in April, more than about 140,000 forecasts.
“The labor market still remains,” the Kobeissi’s trade is a source of trade write In part of a reaction to X.
The strong results are less than bullish for crypto and risk ownership as it indicates that the labor market is more resilient to tight financial conditions, including elevated interest rates, than expected.
In turn, it gives the US Federal Reserve a more leeway to maintain those conditions longer, eliminating the liquidity markets associated with lower rates.
Despite this, the S&P 500 and Nasdaq Composite Index are both more than 1.3% in the day at the time of writing.
To her Latest post In fact social, meanwhile, United States President Donald Trump has reiterated fed calls to cute rates – a approach adopted throughout His continued implementation of trade tariffs.
“Consumers have been waiting for many years to see pricing to go down. Without inflation, Fed should lower its rate !!!” Part of the stated post, which refers to different inflation markers.
Number Cointelegraph reportedThe Fed’s next decision on rates will come on May 7, with markets that are overwhelmingly seeing no change in the current regime. The latest data from CME Group’s Fedwatch tool Puts the odds of a cut next week to just 2%.
Warning to BTC price of “Liquidity Grab”
In the Bitcoin circles, market participants responded to sellers of sellers to continue pushing higher on Sunday.
Related: The Bitcoin Hodler’s Unrealted Revenue near 350% as $ 100k Seller Dangers
“Going to be an interesting -friendly day in the future,” famous businessman skew said X Followers next to a book of the book’s Exchange Order.
“Sellers defend $ 97.2K and shorts that continue to measure the price. The passive spot flow will probably resurrect the trend.”
Businessman Daan Crypto has warned that current local highs can end a ploy to take liquidity before a return.
“$ BTC broke $ 93k up to $ 96k range after price action was that compressed for nearly a week,” part of an x post Read Prior to the release of macro data.
“Right now it’s a similar setup like the week before, but I don’t want to see it returning to the $ 93k- $ 96k range or it will be a Grab of liquidity.”
Another popular businessman known as ThekingFisher referred to the bid’s liquidity as a reason for a short -term DIP at $ 95,000.
Meanwhile, the businessman and analyst Capital rect, provided an end-of-week target price of BTC of $ 99,000.
“If Bitcoin continues to hold above $ 93,500 (as it is today), then the price is positioned for a move to full range,” he Explained Next to the weekly BTC/USD chart the day before.
“However, the key that $ BTC destroys the black lower high resistance within this range positioned at ~ $ 99K this week.”
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