Live Updates on Bitcoin Price Movement Amid Strategy Sell-Off
Bitcoin Price Movements
Live updates indicate that Bitcoin touched $63,882 overnight, before sliding down to approximately $62,900 according to CoinDesk data. During the past 24 hours, the highest recorded price was $63,900, which held briefly until sellers intervened, redirecting the asset's course.
Influence of U.S. Jobs Report
Thursday's U.S. jobs report, which came in weaker than expected, provides a boost to liquidity-sensitive assets as we approach the weekend. The weakening jobs market implies a reduced likelihood of a Federal Reserve rate hike, easing pressure on Bitcoin.
Market Expectations
- This backdrop has gradually shifted following a period that pushed ETF investors out of Bitcoin through June.
- It is essential to note that such changes take time and one data release alone does not flip the market setup.
Upcoming Data Points
The next significant data point to watch for is the July 14 CPI release, which could either prolong the current relief or impose limits on the early-July rally.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.