US Payrolls Pass Forecast, Bitcoin Dey Pull Back as Fed Cuts Diminish
US nonfarm payrolls increase 147,000 for June, pass wetin dem predict wey be 111,000 and make unemployment rate drop pass wetin people expect. Strong nonfarm payrolls report dash hope for Federal Reserve to cut rate for July, push back expectation for easing till after September. Bitcoin climb reach $110,300 before e fall back to key support level for $108,000 as traders adjust to new Fed rate-cut outlook. Trading volume show say liquidity steady between $108,000 support and $112,000 resistance. Some analysts talk say strong US economy fit help crypto market for long term, but the immediate reaction put pressure for Bitcoin price momentum.
Bearish
Strong US nonfarm payrolls data dash expectation for near-term Fed rate cuts, make bond yields dey rise and make traders dey move comot from risk assets. Bitcoin reject near $110,300 and fall back to $108,000 support show this change. For short term, less liquidity and higher interest rates fit stop speculative buying, wey fit lead to bearish price action. For long term, steady economic growth and stable liquidity fit support crypto market resistance, but short term momentum still dey under pressure.