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Bitcoin nears January high as $85,000 resistance clears
Original: Bitcoin nears highest level since January as $85,000 sell wall clears, US jobs data disappoints
Bitcoin is approaching its highest level since January after clearing a large sell wall around $85,000. The move comes alongside weaker-than-expected US jobs data, which traders read as increasing the likelihood of looser monetary policy and boosting appetite for risk assets. Market watchers are focused on whether the cryptocurrency can break decisively above the level and sustain momentum toward new yearly highs.
Why now: A key price breakout combined with disappointing US jobs data is fueling debate about whether Bitcoin's rally can continue.
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Evidence
- Bitcoin nears highest level since January as $85,000 sell wall clears, US jobs data disappoints · The Block
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