US April Non-Farm Data Released: Positive or Negative?

The US has released its April non-farm employment data, and the overall figures are quite good. In April, the US added 177,000 jobs, exceeding market expectations, and the unemployment rate remained at 4.2%, showing no signs of deterioration. Considering the previously released GDP data, the US economy is not currently in a substantial recession. This has restored market confidence in the US economy, alleviating previous concerns about a recession for the time being.

So the question arises, what will happen next?

On-chain data shows that after breaking through $97,000, market sentiment has changed subtly. Some short-term investors, seeing BTC prices at a high level, cannot resist the urge to take profits, leading to a slight increase in turnover rate. Currently, the $93,000 to $98,000 range is a critical area, with over 2.63 million in volume concentrated there, representing almost all the liquidity in the short-term market. This range serves as a solid bottom support, meaning it won't drop below this level, but it is also the current resistance level, making it somewhat difficult to rise above. The market is still event-driven, and any positive or negative data will directly affect the movements of BTC and US stocks. #美国稳定币法案 #加密市场回调 #MichaelSaylor暗示增持BTC