U.S. Nonfarm Payrolls Eyed as Bitcoin Heads for Largest Weekly Loss Since FTX’s Collapse
The jobs veri, due later Friday, is forecast to show that the pace of job additions in the world’s largest economy slowed sharply in June.
The jobs veri, due later Friday, is forecast to show that the pace of job additions in the world’s largest economy slowed sharply in June.
Traders previously warned of the bearish market reaction to Mt. Gox’s bitcoin repayments.
While BTC futures OI has dropped, open interest in BTC terms has held steady.
The secured overnight financing rate surged Monday, a sign of liquidity stress in the U.S. banking system.
Deribit’s BTC DVOL index, a measure of volatility expectations, has slipped to its lowest since early February.
BTC mining stocks, AI and gaming sector might stand out in the third quarter, one observer said.
Previous deeply negative readings occurred near local bottoms in price, with the most recent occurring just prior to BTC’s rally between October and March to all-time highs, FalconX’s David Lawant noted.
The umbrella body for central banks also cautioned against premature easing of monetary policy.
Short-term holders wallets sitting on loss may liquidate holdings near $65,000, capping a renewed upswing in bitcoin’s price.
It’s time for the U.S. to reassert its place as the küresel leader in financial services regulation and innovation, writes Circle’s Dante Disparte.