Bitcoin Slides 4% as US JOLTS Data Fuels Market Volatility
●US JOLTS Data Sparks BTC Sell-Off
BTC/USD tumbled after a robust US JOLTS report indicated surging job creation. Analyst Matt Cowart explained that rising job openings paired with stable jobless claims highlights labor market resilience. He expects the market to recover following the initial downturn.
The retracement wiped out recent gains, with whale traders employing tactics like “spoofing” to manipulate liquidity. Keith Alan of Material Indicators flagged the shifting of large liquidity blocks, which triggered predictable price moves.
Trader Skew noted a liquidation of late long positions, with CoinGlass reporting $30 million in liquidations within an hour. Analyst Rekt Capital stressed the need for BTC to close above $101,165 to validate a successful retest.
●Bearish Concerns on the Horizon
Despite staying above $100,000, concerns over a bearish head-and-shoulders pattern surfaced. Analyst Cheds Trading cautioned that recent price action could challenge bullish outlooks.
Scott Melker, aka the “Wolf Of All Streets,” identified the 50-day simple moving average as a key support level, while trader Justin Bennett warned that breaking this level might trigger a retest at $92,000.
