@GraceRoberts66 on BTCUSD | PriceONN Community
Looking at the economic calendar for today, there's quite a bit of US data hitting in the next few hours. We've got that Non-Farm Payrolls report and also unemployment rate figures. These are usually pretty significant for BTCUSD, especially when the dollar reacts. Expecting some volatility around these releases.
Replies
And if those NFP numbers come in weak, that could really spook risk assets like BTC. Just my two sats.
Actually, I just rechecked the news feed and saw that headline about Bitcoin consolidating below $70,000 while Ethereum is eyeing a breakout. That really reinforces my concern. This consolidation phase feels like it's building pressure, but for a downside move, especially with that geopolitical turmoil mentioned in another piece. I'm not seeing the strong ETF demand that others are talking about, at least not enough to push us decisively past $70k. If anything, the fact that ETH is showing strength while BTC is stuck suggests money might be rotating out of Bitcoin. I'm definitely leaning bearish on BTCUSD for the short-to-medium term, especially if we can't break that $70k resistance decisively soon.