Fun

News Feed - 2023-08-04 11:08:19

William Suberg9 hours agoBitcoin price taps $29.3K as data shows ‘most resilient’ US jobs marketBitcoin offers slight volatility after fresh U.S. macro data, but BTC price behavior remains firmly rangebound.1649 Total views17 Total sharesListen to article 0:00Market UpdateJoin us on social networksBitcoin (BTC) inched higher at the Aug. 4 Wall Street open as mixed United States unemployment data rocked U.S. dollar strength.BTC/USD 1-hour chart. Source: TradingViewU.S. unemployment gives mixed picture


Data from Cointelegraph Markets Pro and TradingView followed BTC price action as BTC/USD set daily highs of $29,273.


U.S. jobless figures came in below expectations on the day, at 3.5% versus an estimated 3.6%, while the number of jobs added was less than forecast.


Responding, financial commentator Holger Zschaepitz said that the data had “no clear message.”


“Despite the fastest rising rates of all time, the labor market remains strong,” financial commentary resource The Kobeissi Letter continued in part of its own synopsis.“This is the most resilient labor market in history.”


While U.S. stocks and Bitcoin managed to eke out modest gains as a result, the U.S. dollar felt the pressure in what could still aid a more pronounced BTC price rebound.


The U.S. Dollar Index (DXY) was down 0.6% on the day at 101.8, setting new lows for August.U.S. Dollar Index (DXY) 1-day chart. Source: TradingView


For Michaël van de Poppe, founder and CEO of trading firm Eight, there was reason to believe that BTC/USD could improve into the next round of macroeconomic data releases.


“This means $DXY down, stocks up & Bitcoin potentially up awaiting CPI next week,” he wrote about the jobs data.


Van de Poppe referenced the upcoming Consumer Price Index inflation print for June, due Aug. 10.BTC price range to stick into weekend, says trader


Turning to Bitcoin itself, popular trader Skew tracked rash moves among traders as brief BTC price volatility appeared.


Related: BTC price upside ‘yet to come’ at $29K after Bitcoin RSI reset — Trader$BTC

Short taken out, some short float left still https://t.co/fVvHhrVr1y pic.twitter.com/zARYYyIZy8— Skew Δ (@52kskew) August 4, 2023


He nonetheless described the broader market reaction to the data as “very interesting.”


On-chain monitoring resource Material Indicators likewise followed changes in bid and ask liquidity on the Binance BTC/USD order book.Was watching the #Bitcoin PA in real time on #FireCharts 2.0 (beta) as the Economic Reports came across the wire. Purple Whales started eating resistance as the numbers came in, then a column of bids and asks were pulled and a few minutes later moved.

Out of respect and… pic.twitter.com/5bjloZM7DW— Material Indicators (@MI_Algos) August 4, 2023


Going into the weekend, few expected a significant change in the overall sideways trading environment.


“I feel we will be stuck above this support zone for this weekend. For now no entry for now as we just remain range bound,” a typical prediction from popular trader Crypto Tony read earlier in the day, alongside a chart showing relevant levels.BTC/USD annotated chart. Source: Crypto Tony/Twitter


Magazine:Experts want to give AI human ‘souls’ so they don’t kill us all


This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.# Bitcoin# Dollar# Bitcoin Price# Markets# StocksAdd reactionAdd reactionRelated NewsHow to earn passive income with peer-to-peer lendingHow will Bitcoin halving affect BTC price, and is DeFi dead?The absurd AI mania is coming to an endWhy is the crypto market up today?Bitcoin traders put eyes on $31K even as $2B in BTC options expire on FridayBTC price ‘fireworks’ after monthly close? 5 things to know in Bitcoin this week

News Feed

A Committee of Celsius Creditors Objects to Celsius Selling Its Stablecoin Cache
A Committee of Celsius Creditors Objects to Celsius Selling Its Stablecoin Cache A committee of unsecured creditors stemming from the Celsius bankruptcy case has filed a motion wit
Ethereum’s Crypto Economy Dominance Nears 20% as Ether Prices Rocket to Fresh Highs
Ethereum"s Crypto Economy Dominance Nears 20% as Ether Prices Rocket to Fresh Highs The world’s second-leading crypto asset in terms of market valuation, ethereum, has seen
Argentine Peso Plunges to a 5 Month Low Amid Legal and Political Woes
Argentine Peso Plunges to a 5 Month Low Amid Legal and Political Woes The Argentine Peso has experienced a sudden fall vs the U.S. dollar, falling to a 5-month low in its blue rate
Blockaid says it caused crypto drainer to shut down, defends against claims of 'false positives'
Christopher Roark5 hours agoBlockaid says it caused crypto drainer to shut down, defends against claims of "false positives"The team defended itself against claims of excessive false positives, suggesting it was so effec
Blackbird Labs launches Web3 platform for restaurant payments
Alex O’Donnell4 hours agoBlackbird Labs launches Web3 platform for restaurant paymentsBlackbird Pay is built on the company"s new blockchain network, Blackbird Flynet.883 Total views7 Total sharesListen to article 0:00
Latest Ghana Inflation Rate the Highest in 19 Years — Economist Recommends Installation of Currency Board
Latest Ghana Inflation Rate the Highest in 19 Years — Economist Recommends Installation of Currency Board Ghana’s ongoing economic woes appeared to worsen in July after da
BEUROP Launches DeFi Trading and Marketing Platform for Blockchain Startups
BEUROP Launches DeFi Trading and Marketing Platform for Blockchain Startups press release PRESS RELEASE. Blockchain Euro Project BEUROP has announced the launch of its DeFi trading
Kucoin Labs Launches $100 Million Metaverse Investment Fund
Kucoin Labs Launches $100 Million Metaverse Investment Fund Kucoin Labs, the investigative and investment arm of Kucoin, a cryptocurrency exchange, has launched a $100 million fund
Is Bitcoin Price Heading To $137K? Market Expert Says BTC Broke Out Since Nov. 2024
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Moody’s: Cryptocurrencies Unlikely to Help Russia Evade Sanctions
Moody’s: Cryptocurrencies Unlikely to Help Russia Evade Sanctions Russia’s ability to employ cryptocurrencies to circumvent international sanctions is restricted by the li
Alchemy Pay Using Chainlink to Enable Trading on Decentralized Exchanges and Borrowing in DeFi Using ACH
Alchemy Pay Using Chainlink to Enable Trading on Decentralized Exchanges and Borrowing in DeFi Using ACH press release PRESS RELEASE. Singapore, September 22, 2021 –Alchemy P
Crypto firms brace for intensified SEC, CFTC action after regulator warning
Prashant Jha10 hours agoCrypto firms brace for intensified SEC, CFTC action after regulator warningThe CFTC warned of another cycle of enforcement actions against crypto firms as investor interest rises.5633 Total views7