Bitcoin fell further beneath $100,000 following the US job market data, which indicated a slight increase in initial jobless claims, coming in at 217,000 versus an expected 210,000. Despite the weaker labor market indicators, the stock market remained stable with a rally spurred by a recent CPI report that eased inflation concerns. Bitcoin experienced a brief increase, reaching $100,800 before stabilizing under the $100K mark. This volatility allowed altcoins to shine, particularly XRP, which reached an all-time high on Bitstamp, with Solana gaining 8%. These movements were attributed to expectations of favorable treatment for US-based altcoins under the incoming Trump administration. As Bitcoin's dominance dropped from 58.6% to 57.4%, traders speculated on an upcoming altcoin season. However, expectations for a Federal Reserve interest rate cut remain low, with only a 2.7% chance of a cut in the next meeting, keeping caution in place for risk-assets including cryptocurrencies.

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