The latest US initial unemployment billing data consisted of 215,000 compared to the expected expectation of 225,000 on April 17. According to the dip of the unemployed, the US labor market was stable and few were affected by the uncertainty of US tariffs. Initial unemployment claims are major economic indicators that measure the health of the US economy and often affect investors feelings on risky assets such as Bitcoin (BTC).
The elasticity of the labor market is to mention the recent impact of Jerome Powell, Chairman of the Federal Reserve. Powell at a press conference held at the Chicago Economic Club on April 16
“The level of tariffs announced so far is much larger than expected. The same is true for economic impacts, which will increase inflation and slow growth.”
Fed Reserve also said that there is no plan to intervene in market bailouts or to reduce interest rates in the near future. This position is consistent with his early opinion from April 4, 2025, and he consists of his early opinion when he mentions “too fast” to consider a decrease in interest rates by reflecting the Fed’s prudent approach during economic uncertainty.
But the European Central Bank cut interest rates from 2.50%to 2.25%to fight the economic pressure of US trade tariffs. According to the data, the ECB has been borrowed to the lowest level since late 2022, and the seventh decrease in one year due to the current interest rate cut.
Related: As BTC maintains ‘impressive’, Bitcoin Gold Copycat Move can reach $ 15 million.
The analyst said that Bitcoin remains at the inflection point.
In the case of risky assets such as Bitcoin, the unemployed in recent years claims that a strong labor market requires data in the short term because it reduces the possibility of reducing the rate of support for speculative investments.
The price of the BTC has been integrated in a solid range over the last few days and has not exceeded $ 86,000. In light of this, Crypto’s anonymous Crypto Trader Titan said Bitcoin is at the “inflection point.”
The inflection point of the transaction is an important point in which the market direction and momentum can change significantly. The balance between the buyer and the seller reaches the tip point, leading to a reversal or acceleration of the trend. The merchant
“Bitcoin inflection point. In the 1H chart, the BTC tries to contract and select the direction in the triangle. RSI is more than 50 and attempts to cut off the resistance. The movement is brewed.”
Order Flow Trader Magus mentioned that Bitcoin is integrating between $ 83,700 and $ 85,200. In order to continue the strength of the strength, the BTC does not surpass this level, so the long -term chart has a potential weakness, so the BTC must soon cut more than $ 85,000.
Related: Bitcoin price levels can be watched as the hope of reducing the Fed rate is faded.
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.