Today, 07:07 AM
Bitcoin Slips Below Key Support as Rate-Cut Hopes Fade
Markets remain on edge in the wake of last week’s sharp sell-off across risk assets. A stronger-than-expected U.S. jobs report dampened expectations for a rate cut next month, applying further pressure on risk-sensitive assets and complicating the near-term outlook for monetary policy.
Bitcoin (BTC) has retraced from earlier lows near $60,000 but is now trading around $66,000–$68,000 after a brief rebound that failed to hold above a key confluence zone (more below). This renewed bearish momentum spilled over into the broader crypto market, with Ether (ETH) breaking below the psychological $2,000 level and many altcoins posting negative weekly gains.
Precious metals have held up better as safe-haven seekers rotated capital. Gold has reclaimed the $5,000 support, and silver remains firm above ~$80.
Global equities remain mixed: major indices have seen bouts of strength (e.g., the Dow pushing record territory amid tech rebounds), yet broader risk appetite remains fragile as upcoming inflation data and earnings reports weigh on sentiment.
Overall correlation across asset classes remains elevated, with macro releases (especially U.S. labor and upcoming inflation prints) continuing to drive cross-market volatility. Investors are waiting for clearer signals on monetary policy before committing aggressively to risk assets.
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