- Bitcoin retreats and stays below the $104,000 level -

Bitcoin has depreciated this Thursday (5), despite some positive news for the sector – such as the IPO of stablecoin issuer Circle, the launch of a bitcoin index fund by Donald Trump's company, and JPMorgan's preparations to accept crypto-linked assets as collateral.

Around 3:34 PM (Brasília time), Bitcoin was down 1.89%, trading at $103,202.20, while Ethereum fell 2.13%, priced at $2,580.24, according to data from Binance.

One positive news for the sector – but insufficient to drive crypto asset prices (perhaps) – was the filing for the launch of an index fund (ETF, in English) with direct exposure to Bitcoin by Trump Media and Technology, the media company of the US president.

Analysts attribute the recent declines in cryptocurrencies to profit-taking. Bitcoin reached an all-time high of nearly $112,000 in May. Since then, it has been slowly falling but remains above the psychologically important level of $100,000.

For today, Friday (6), it is expected that the official US jobs report will show a slowdown in job creation, note the analysts at Bitfinex. The worsening conditions in the labor market could lead the Federal Reserve (Fed) to cut interest rates sooner, which is usually a positive sign for risk assets like cryptocurrencies.

Source: e/investidor