Bitcoin price staged an intraday rally to the $44,000 level and technical charts show altcoins are keen to follow.
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Price analysis 12/8: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, AVAX, LINK, MATIC
Bitcoin price staged an intraday rally to the $44,000 level and technical charts show altcoins are keen to follow.
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Markets rethink Fed rate cuts as Bitcoin circles $44K on US jobs data
Bitcoin traders are increasingly focusing on altcoins as BTC price action cools following the week's vertical upside.
Markets rethink Fed rate cuts as Bitcoin circles $44K on US jobs data
Bitcoin (BTC) tapped $40,000 after the Dec. 8 Wall Street open as United States employment data shrunk market bets on interest rate cuts.
BTC/USD 1-hour chart. Source: TradingViewBitcoin holds firm as jobs data unsettles U.S. dollar
Data from Cointelegraph Markets Pro and TradingView covered the latest BTC price action as risk assets reacted to the latest U.S. inflation cues.
Nonfarm payrolls came in above expectations at 199,000 versus 190,000, while unemployment was lower than forecast at 3.7% versus 3.9%, per an official release from the U.S. Bureau of Labor Statistics.
Both suggested that the full impact of Federal Reserve monetary tightening had yet to show itself, and while other data had already captured declining inflation, markets treated the labor figures nervously.
Data from CME Group’s FedWatch Tool nonetheless put the odds of anything other than a rate change freeze continuing at next week’s Fed meeting at practically zero.
Markets rethink Fed rate cuts as Bitcoin circles $44K on US jobs data
Bitcoin traders are increasingly focusing on altcoins as BTC price action cools following the week's vertical upside.
Markets rethink Fed rate cuts as Bitcoin circles $44K on US jobs data
Bitcoin (BTC) tapped $44,000 after the Dec. 8 Wall Street open as United States employment data shrunk market bets on interest rate cuts.
BTC/USD 1-hour chart. Source: TradingViewBitcoin holds firm as jobs data unsettles U.S. dollar
Data from Cointelegraph Markets Pro and TradingView covered the latest BTC price action as risk assets reacted to the latest U.S. inflation cues.
Nonfarm payrolls came in above expectations at 199,000 versus 190,000, while unemployment was lower than forecast at 3.7% versus 3.9%, per an official release from the U.S. Bureau of Labor Statistics.
Both suggested that the full impact of Federal Reserve monetary tightening had yet to show itself, and while other data had already captured declining inflation, markets treated the labor figures nervously.
Data from CME Group’s FedWatch Tool nonetheless put the odds of anything other than a rate change freeze continuing at next week’s Fed meeting at practically zero.
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Bitcoin may hit $50K on altcoin ‘FUD’ as Ethereum, Solana beat gains
Bitcoin takes a back seat on low timeframes as ETH and SOL claw back crypto market cap share from BTC.
Bitcoin may hit $50K on altcoin ‘FUD’ as Ethereum, Solana beat gains
Bitcoin (BTC) struggled to hold above $43,000 into Dec. 8 as an altcoin surge put Ether (ETH) in the spotlight.
BTC/USD 1-hour chart. Source: TradingViewETH, SOL step up as Bitcoin takes liquidity
Data from Cointelegraph Markets Pro and TradingView showed ongoing BTC price consolidation as ETH/USD added up to 7.6% in around 24 hours.
Bitcoin, having tapped new 19-month highs of $44,490 earlier in the week, now troubled market participants as both ETH and Solana (SOL) stole attention.
Eyeing Bitcoin’s share of the overall crypto market cap, popular analyst Matthew Hyland described recent progress as a potential “false breakout.”
Dominance hit 55.26% on Dec. 6, in line with the BTC price highs — the highest reading since April 2021.
Bitcoin may hit $50K on altcoin ‘FUD’ as Ethereum, Solana beat gains
Bitcoin takes a back seat on low timeframes as ETH and SOL claw back crypto market cap share from BTC.