Bitcoin started the weekend in the red, as markets continued to digest the latest nonfarm payrolls in the United States. Despite payrolls coming in better than expected, the unemployment rate also rose, hitting 3.7%, which is its highest point since last October.
Bitcoin
Bitcoin (BTC) was mostly consolidating to start the weekend, as traders continued to digest the latest U.S. nonfarm payrolls data.
Payrolls rose to 339,000 last month, which was higher than the 190,000 markets were expecting.
Following a low of $26,898.00 on Friday, BTC/USD is trading at $27,149.78 at the time of writing.
For many, a recent upward crossover of the 10-day (red) and 25-day (blue) moving averages was a signal that bullish momentum was set to return.
However, yesterday’s economic data has added more questions than provided answers, as to what the Federal Reserve could do in its upcoming meeting.
A ceiling at $27,300 remains a key hurdle for bulls to overcome, and should this occur, the chances of a move
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