The last initial data on the unemployment claims in the US amounted to 215,000, below the estimated expectations of 225,000, 17 April. The discount in unemployed claims indicated that the American labor market remained stable, and fewer people affected the uncertainty of American tariffs. Initial unemployment claims are a leading economic indicator that it measures the health of the US economy and often affects the mood of investors around risk assets such as Bitcoin (BTC).
Resistance in the labor market appears in the last commentary of the chairman of the Federal Reserve Jerome Powell on the impact of tariffs. At a press conference at Economics Club of Chicago, April 16 Powell he said,
“The level of tariff growth announced so far is much higher than expected. The same can be true in terms of economic effects that will include higher inflation and slower growth.”
The chairman of the FED reserve also stated that the FED is not planning to intervene with saving the market or implementing interest rates in the near future. This position is in line with his earlier comments of April 4, 2025, when he noticed that “too early” was to consider lowering the feet, reflecting the cautious Fed approach among the constant economic uncertainty.
However, the European Central Bank reduced interest rates to 2.25% from 2.50% to combat economic pressure from American trade tariffs. According to data, EBC raised the cost of the loan to the lowest level from the end of 2022, and the current reduction in the rate meant the seventh reduction during the year.
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The analyst says that bitcoins remains at the point of inflection
In the case of risk assets, such as Bitcoin, recent American claims that the data is leaning in the miniature period, because the robust labor market reduces the likelihood of foot reductions, which supports speculative investments.
BTC prices have consolidated strictly over the past few days, not exceeding USD 86,000. In the featherlight of this anonymous cryptographic dealer, Titan of Crypto, he said that Bitcoin is in the “point of inflection”.
The trade inflection point is a critical moment when the direction or momentum of the market can change significantly. This is the moment when the balance between buyers and sellers reaches a critical point, often leading to reversal or acceleration in the trend. Trader said:
“Bitcoin inflection point. On the 1H BTC chart, he shrinks in the triangle and is going to choose the direction. RSI is over 50 years old and tries to break its resistance. Transfer to weighs.”
Order trader magus excellent that Bitcoin consolidates from 83,700 to 85 200 USD. In order for the stubborn rush to persist, BTC must soon exceed $ 85,000, because long -term charts signal potential risk if this level is not exceeded.
Related: Bitcoin price levels
This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.
