Altcoins underperformed as the market digested macroeconomic uncertainty, with Glassnode analysts noting the $88,000 level has marked corrective phases in prior cycles.
Bitcoin Slips Below $108K Ahead of U.S. Jobs Report
Table of Contents
CMC Crypto News
Bitcoin Slips Below $108K Ahead of U.S. Jobs Report
By Decentralized Dog
2m
19h ago
Altcoins underperformed as the market digested macroeconomic uncertainty, with Glassnode analysts noting the $88,000 level has marked corrective phases in prior cycles.

Table of Contents
Bitcoin News
Bitcoin News
Friday's employment report, due at 1:30 p.m. UTC, has investors focused on key labor market data, with economists expecting moderation in hiring while unemployment holds near recent levels. The data will help clarify whether rate cuts reflect confidence in a soft landing or growing concern that pockets of the economy are weakening.
Bitcoin traded around $107,000, declining roughly 3% over 24 hours, while Ethereum slipped approximately 3.5% to near $3,700. Major tokens softened across the board as investors maintained a defensive stance ahead of the critical economic release.
On-chain metrics point to softening momentum for the largest cryptocurrency. Bitcoin has failed to climb back above the short-term holders' cost basis near $113,000, a level some analysts view as the dividing line between bullish and corrective phases, according to Glassnode's report last week.
Bitcoin Slips Below $108K Ahead of U.S. Jobs Report
Table of Contents
CMC Crypto News
Bitcoin Slips Below $108K Ahead of U.S. Jobs Report
By Decentralized Dog
2m
19h ago
Altcoins underperformed as the market digested macroeconomic uncertainty, with Glassnode analysts noting the $88,000 level has marked corrective phases in prior cycles.

Table of Contents
Bitcoin News
Bitcoin News
Friday's employment report, due at 1:30 p.m. UTC, has investors focused on key labor market data, with economists expecting moderation in hiring while unemployment holds near recent levels. The data will help clarify whether rate cuts reflect confidence in a soft landing or growing concern that pockets of the economy are weakening.
Bitcoin traded around $107,000, declining roughly 3% over 24 hours, while Ethereum slipped approximately 3.5% to near $3,700. Major tokens softened across the board as investors maintained a defensive stance ahead of the critical economic release.
On-chain metrics point to softening momentum for the largest cryptocurrency. Bitcoin has failed to climb back above the short-term holders' cost basis near $113,000, a level some analysts view as the dividing line between bullish and corrective phases, according to Glassnode's report last week.
Treasury Secretary Scott Bessent's weekend comments added to market caution. He told CNN that the Federal Reserve's restrictive policy may have driven parts of the economy, particularly housing, into recession, while arguing the central bank now has room to cut rates.
The threshold has capped prices for three weeks following six months of trading above it, signaling fading demand at current levels. A sustained break lower raises the risk of a deeper pullback, with the next significant support near $88,000, based on the realized cost basis of actively circulating supply.
Bessent warned that keeping borrowing costs elevated risks deeper economic pressure, especially for leveraged households. Crypto initially strengthened on prospects that his remarks could reinforce the case for easing, but gains faded as traders weighed whether cuts driven by slowing activity might spur near-term volatility rather than clean liquidity.
Bitcoin dominance remained firm, signaling limited risk appetite in smaller tokens. Altcoins underperformed as the market digested macroeconomic uncertainty, with Glassnode analysts noting the $88,000 level has marked corrective phases in prior cycles.
Friday's jobs data will provide critical insights into the Federal Reserve's future policy direction and potential impacts on digital asset markets in the coming weeks. Market participants remain cautious as they await clarity on whether economic conditions support continued easing or signal deeper concerns about growth.
