Bitcoin fell below $75,000 on Friday after the U.S. market open, reaching $74,762, its lowest level since August 21. Wall Street rebounded, with the Nasdaq Composite gaining 1.8% during the first hour of trading before the advance narrowed to 1.2%, but crypto markets did not follow. The decline followed stronger-than-expected U.S. employment data: nonfarm payrolls rose by 165,000 in October versus 65,000 expected, while unemployment fell to 4.1%. These figures increased the probability of a 25-basis-point Federal Reserve rate hike in December to 76.8%, weighing on risk assets such as bitcoin. Analysts warned that bitcoin could fall to $69,000 if support around $75,500 fails to hold.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
