Bitcoin faced volatility on January 10 as US macroeconomic data affected crypto market sentiments. The release of stronger-than-expected December nonfarm payroll data led to a $1,500 decrease in BTC/USD, indicating challenges for risk assets and diminishing expectations for Federal Reserve rate cuts. Analysts indicated that the improved labor market data reduces the likelihood of quicker interest rate cuts by the Fed, consequently impacting liquidity in Bitcoin and the broader crypto market. The current market speculation highlights support zones around $88,000 and $90,000 for Bitcoin. Despite the recent decline, some traders suggest that there are signs of potential price reversal, noting bullish divergences on the relative strength index. The article emphasizes the significance of macroeconomic indicators and their influence on cryptocurrency pricing, while cautioning that the evolving political landscape may also play a pivotal role in market dynamics.

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