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BiyaPay Analyst: US August Non-Farm Payrolls Data Disappointing, Bitcoin Weekly Chart Shows Weakness, Possible Support at $93,000
BlockBeats News, September 6th: On the evening of September 5th, the U.S. Bureau of Labor Statistics announced that only 22,000 non-farm jobs were added in August, far below the market's expectation of 75,000. The unemployment rate rose to 4.3%, hitting a new high since the end of 2021.
The weak employment data has triggered a decline in the U.S. dollar and an increase in gold prices, causing volatility in the short-term trend of Bitcoin. Looking at the latest Bitcoin candlestick chart, BTC's weekly chart is showing a clear downturn trend, closing below key support levels for several weeks in a row. The short-term moving averages are trending downward, with a clear bearish crossover in the MACD, indicating a weakening bullish momentum. From a technical perspective, if Bitcoin fails to hold above the $100,000 psychological level, the immediate support below may first test the $96,000–$98,000 range. Further breakdown could extend to around $93,000. Intraday trading is highly volatile, and investors need to be cautious of the risk of short-term pullbacks.
BiyaPay reminds users that in an environment where macroeconomic data overlaps with crypto market volatility, flexible asset allocation is especially important. BiyaPay's multi-asset trading wallet continues to provide you with one-stop services such as global remittances, cryptocurrency trading, and U.S.-Hong Kong stock investments, helping you seize opportunities in turbulent markets and achieve asset appreciation.
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