Bitcoin Price Increase Slows Down (Bloomberg)
However, Panji continued, Bitcoin managed to strengthen again to above the MA-20 on Friday today.
"Bitcoin Support: US$91,000 and resistance US$100,000."
Wait and See US Labor Data
The sentiment that underlies Bitcoin's decline comes from the US Economy, ahead of the important US Labor report which is expected to provide further clues regarding the policy of the US Central Bank (Federal Reserve/The Fed).
Investors seem to be starting to prepare for new economic support measures from the important policy meeting that will begin next Wednesday.
As reported by Bloomberg News, the monthly Government Labor report to be released on Friday night will provide further insight into Labor demand. Economists estimate that non-Farm Payroll will increase by 215,000 in November. With the Unemployment Rate expected to remain unchanged at 4.1%.
Citing CME FedWatch Tools tonight, the chance of a 25 basis point Federal Funds Rate cut to 4.25%–4.5% in this month's meeting, December, remains at a probability of 68.4%.
Federal Funds Rate Probability in December (CME FedWatch)
A number of these data are important to provide a little clue to the Fed's next steps.
Meanwhile, the Fed will only hold another FOMC meeting on December 17–18. Before the meeting, the Fed will have supporting data that will be considered.
Meanwhile, TRON TRX is also under pressure, in line with Bitcoin with a weakening of 4.71% to a price of US$0.317.
Elon Musk's Dogecoin DOGE weakened 4.11% in 24 hours, and has fallen to a price of US$0.4277.
Furthermore, Solana SOL, which weakened 2.42% in 24 hours, recorded a negative trend, with a correction at a price of US$234.36. Ethereum ETH has also entered the red zone trend, contracting 2.11% at a price of US$3,858.15.
