#bitcoin BITCOIN FUNDAMENTAL UPDATE 🚀

Bitcoin is currently trading around $84,109, reacting to today’s high-impact economic data. The market saw increased volatility after the release, shaping BTC’s price action.

🔹 Current Market Situation

- BTC initially dipped following the strong NFP data, reflecting USD strength.

- However, the higher unemployment rate and weaker wage growth helped BTC stabilize.

🔹 Impact of Today’s News

📌 Non-Farm Payrolls (NFP)

➡️ – Strong NFP data boosted the USD, initially pressuring BTC.

📌 Unemployment Rate

➡️ – A rising unemployment rate signals economic weakness, providing some relief to BTC.

📌 Average Hourly Earnings

➡️ – Slower wage growth reduces inflation fears, which could support BTC in the long term.

🔹 Technical Outlook

- RSI is recovering from oversold levels, hinting at a potential short-term bounce.

- SMA levels are still acting as resistance—BTC must break above to regain bullish momentum.

🔹 As We Step into the Weekend.

- Low trading volume is expected, which could lead to choppy price action.

- Sudden price spikes are possible due to lower liquidity, so trade cautiously.

- A clearer direction may emerge next week as the market digests today’s data.

⚠️ Stay cautious—fundamental news has triggered volatility! Keep an eye on market conditions and trade accordingly.

📌 Follow BTC market updates for more clarity on upcoming moves! 🚀📊🔥