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: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • 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: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Major Economic Data Releases Tomorrow — How Would Bitcoin Respond?

Yashu Gola
Yashu Gola
1 year ago
2 mins read
bitcoin, btcusd, xbtusd, btcusdt, cryptocurrency, spx, s&p 500, us index, coronavirus, covid19

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.

  • Bitcoin has started the third quarter mutely as its price fluctuates in a small $6-range.
  • The cautious sideways movement surfaces ahead of the U.S. Non-Farm Payrolls (NFP) report releasing on Thursday.
  • Observers expect a recovery of at least 3 million jobs in June, a piece of news that may help the S&P 500 and Bitcoin continue its rally into the new week.

The price of Bitcoin on Wednesday rose modestly, signaling that the cryptocurrency will start the third quarter on a cautious note after closing the previous one more than 40 percent higher.

The BTC/USD exchange rate surged 0.16 percent to circa $9,151 on hopes that Federal Reserve would continue its stimulus program beyond the July expiry. The climb, nevertheless, failed to turn into an extended upside move as traders also assessed the rising number of COVID cases and its impact on the U.S. economy.

bitcoin, btcusd, xbtusd, btcusdt, cryptocurrency, spx, s&p 500, us index, coronavirus, covid19

Bitcoin maintaining support above $9,100. Source: TradingView.com

Bitcoin has so far reacted optimistically to the Fed’s decision to inject $3 trillion via the purchase of Treasury bonds and mortgage-backed securities. The cryptocurrency surged by more than 150 percent from its mid-March low after the central bank’s intervention.

The bullish behavior now looks poised to persist in July as the Department of Labor releases its Non-Farm Payroll report on Thursday.

Recovery in Jobs

Bitcoin, as well the U.S. stock market, is focusing on the Automatic Data Processing employment change in June.

Observers noted that the largest U.S. payroll company expects to have employed 3 million Americans in June after sacking 2.76 million in May and 19.557 million in April. The recovery in employment data may prompt the Fed to pursue a wait-and-watch approach at least until the end of July.

It is also because of the outcome of a Summary of Economic Projections (SEP) that shows “a general expectation of an economic recovery beginning in the second half of this year.”

Nonfarm Payroll Precast: We expect private nonfarm payrolls to surprise on the upside as more businesses reopen across the US.https://t.co/PHMBcC6pjH pic.twitter.com/dQkyPElBTl

— DeepMacro (@DeepMacro) June 30, 2020

Futures tied to the S&P 500 reacted as cautiously as Bitcoin to the U.S. NFP release, plunging by 0.42 percent ahead of the New York opening bell Wednesday. FXStreet analyst Joseph Trevisani noted that the benchmark index would benefit from a positive employment report, nevertheless.

That leaves Bitcoin with a short-term bullish bias. The cryptocurrency’s downside corrective has lately slowed down near the $9,000-9,100 range.

Meanwhile, a rise in the S&P 500, a market that has formed a positive correlation with Bitcoin, may prompt traders to push the crypto’s price into a new range to the upside.

Risks

The Fed chairman Jerome Powell on Tuesday cautioned the economy against expecting a full-fledged recovery. He cited the resurgence in COVID cases in California and Florida that sent the states into a fresh lockdown phase.

Mr. Powell, however, confirmed that his office expects to introduce additional relief packages for “certain industries” should the situation require.

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

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

XRP Price Corrects After Strong Rally

XRP Price Corrects After Strong Rally — Support Levels in Focus

XRP price started a fresh increase and traded above the $3.00 zone. The price is now correcting gains and might...

Aayush Jindal 2 hours ago
Ethereum Price Rallies Above $3,000

Ethereum Price Fails to Hold Momentum Above $3K — Correction Ahead?

Ethereum price started a fresh increase above the $3,000 zone. ETH is now consolidating gains and might correct lower toward...

Aayush Jindal 3 hours ago

Bitcoin Exchange Inflows Spike After $123,000 Peak – Signs Of Short-Term Cooling?

Bitcoin (BTC) surged to a new all-time high (ATH) of $123,218 earlier today, pushing its market cap beyond $2.4 trillion....

Ash Tiwari 3 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

memecoins, crypto, trump, memecoin

Top Crypto Exchanges Made $172 Million From TRUMP Memecoin Listing – Report

Rubmar Garcia 44 minutes ago
Solana

Solana (SOL) Pulls Back — Can Buyers Defend The $155 Line?

Aayush Jindal 1 hour ago
Spot Volume Drop on Binance Preceded Bitcoin’s Price Surge, Data Shows

Spot Volume Drop on Binance Preceded Bitcoin’s Price Surge, Data Shows

Samuel Edyme 2 hours ago

Premium Sponsors

Press Releases

  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    Aceste 3 monede sub 5 lei ar putea transforma o investiție...

    10 minutes ago
  • How XRP Users Can Make $1 Million from $100 in No Time at...

    5 hours ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 достъпни криптовалути с...

    10 hours ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 megfizethető kriptó 9000%-os potenciállal, olyan...

    11 hours ago
  • 2 cenovo dostupné kryptomeny s potenciálom 9 000 %, podobne ako kúpa Etherea za 8 dolárov začiatkom roku 2017

    2 cenovo dostupné kryptomeny s potenciálom 9 000 %...

    12 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.