NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

U.S. Stocks Dull Bitcoin Appeal on Optimistic Jobs Report

Yashu Gola
Yashu Gola
1 year ago
2 mins read

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 publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

  • Spot bitcoin fell was down 1.32 percent at $9,659 per token ahead of the New York opening bell Friday.
  • Bitcoin futures slid 1.82 percent to $9,715.
  • The move downhill appeared as the U.S. futures headed higher following jobs report at 0830 ET.

Bitcoin prices eased ahead of hugely awaited U.S. jobs report on Friday as investors pinned their hopes on economic recovery.

The spot bitcoin rate fell 1.32 percent to $9,659 per token, while CME futures linked to the Bitcoin market were down 1.89 percent at $9,715. In contrast, the U.S. futures were trading higher, with the benchmark S&P 500 hinting to open Friday 1.48 percent up.

Bitcoin prices were under pressure after crashing from $10,428 to as low as $9,270 earlier this week. While the benchmark cryptocurrency managed a rebound above $9,500, a crucial resistance level that flipped to support, its recourse weakened near $9,700. That left traders in a choppy price range.

bitcoin, cryptocurrency, btcusd, xbtusd, btcusdt
BTCUSD in near-term bias conflict | Source: TradingView.com, Coinbase

The profit-taking near $9,700 led bitcoin to correct lower, leaving behind its uncanny positive correlation with the S&P 500. More so, the cryptocurrency fell in tandem with Gold, its safe-haven rival, which also plunged amid investors’ higher appetite for riskier assets.

Strong Jobs Report

The jobs report, released by the Labor Departement minutes before the time of this writing, showed that the labor market added 2.5 million jobs in April. The figures defied expectations of a loss of 8.3 million jobs, according to a survey conducted by the Wall Street Journal.

Meanwhile, the report also noted a fall in the number of jobless claims. They plunged by 13 percent instead of the expected 20 percent. Overall, the job data showed that the U.S. economy is recovering from the aftermath of an overlong lockdown caused by a fast-spreading pandemic.

Thushka Maharaj of J.P. Morgan Asset Management noted that investors are watching China’s market recovery as their fractal for a similar recovery in the U.S. She said that March and April’s jobless data came from sectors that employ temporary workers.

“Re-employing in these sectors does happen organically and you would expect that as reopening happens in earnest some of these jobs will come back,” she told WSJ.

Bitcoin Bullish Bias Intact

Prospects of a faster economic recovery pushed the S&P 500 higher, which decoupled the U.S. benchmark from Bitcoin.

Nevertheless, bitcoin seems to be heading higher in the coming sessions, as the U.S. dollar weakens, trade tensions between the U.S. and China persist, and fears about the second wave of infections remain. The European Central Bank has also raised bitcoin’s bullish bias by announcing a year-long quantitative easing policy.

Investors are also watching the Fed’s two-day policy meeting next week, expecting that the central bank would introduce more stimulus while keeping the benchmark rates near zero.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum

Ethereum Price Stuck At $2,500: Analyst Says Don’t Trade Until This Happens

The Ethereum price is currently locked in a narrow trading range of around $2,500, with momentum stalling despite the market’s...

Scott Matherson 6 hours ago

What FunToken movement towards a 500% spike says about the scarcity market psychology

FUNToken made an almost historic announcement on June 19, 2025, wherein the company announced a fixed tokenomics, with its supply...

News BTC 7 hours ago
Bitcoin

Bitcoin Investor Sentiment Back To ‘Very Bullish’ — What This Means

The Bitcoin price action was largely sideways rather than strongly bullish for most of June. As of early July, the...

Opeyemi Sule 8 hours ago
Load More

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 publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Litecoin

Litecoin Fate Tied To Bitcoin – Will $96 Resistance Crack?

Godspower Owie 37 minutes ago
XRP

Pundit Predicts XRP Price Will Surge 35,000% When These Two Things Happen

Scott Matherson 2 hours ago
crypto

Crypto Market Cap On Track To $4.5 Trillion As Q3 Unfolds – Details

Semilore Faleti 5 hours ago

Premium Sponsors

Press Releases

  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    3 hours ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    7 hours ago
  • 3 altcoina koje vrijedi pratiti u prvom tjednu srpnja 2025

    7 hours ago
  • XRP Bulls Are Soaring — FINDMINING Rides the Wave to...

    13 hours ago
  • $AIN Expands to 7 DEXs as AI Network Activates Omnichain AI...

    13 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.