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Bitcoin Runs Into Offers Above Price Hurdle Ahead of US Nonfarm Payrolls
A strong NFP could bring more losses to the already weak bitcoin market.
Updated Sep 14, 2021, 1:06 p.m. Published Jun 4, 2021, 10:46 a.m.
Bitcoin retreated to the sub-$37,000 region, having failed to keep gains above the 20-day simple moving average (SMA) early Friday.
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- The cryptocurrency was priced near $36,800 at press time – down 6% on the day. The 20-day SMA was seen at $38,400.
- The four-hour chart shows the cryptocurrency has dived below the uptrend line rising from lows near $33,000, while the relative strength index (RSI) has dipped into a bearish territory below 50.
- That shows scope for a deeper decline, which will likely materialize if the U.S. nonfarm payrolls figure due at 12:30 UTC blows past expectations. A substantially higher than expected number could boost the probability of an early scaling back of stimulus by the Federal Reserve.
- The data is expected to show the economy added 664,000 jobs in May, far above 266,000 initially reported for April, according to FXStreet.
- Likewise, bitcoin may see a recovery if the figure disappoints by a wide margin. That said, the outlook will remain bearish while prices are held under the 200-day SMA at $41,576.
Also read: Bitcoin Drops After Musk Tweets of Breakup
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알아야 할 것:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Bitcoin Faces Japan Rate Hike: Debunking The Yen Carry Trade Unwind Alarms, Real Risk Elsewhere
Speculators maintain net bullish positions in the yen, limiting scope for sudden JPY strength and mass carry unwind.
알아야 할 것:
- Impending BOJ rate hike largely priced in; Japanese bond yields near multi-decade highs.
- Speculators maintain net bullish positions in the yen, limiting scope for sudden yen strength.
- BOJ tightening may contribute to sustained upward pressure on global yields, impacting risk sentiment.
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