🚨😳😳Bitcoin (BTC) slipped below $57,000 on Thursday, reversing the previous day’s gains as concerns over the U.S. economy weighed on the market. 😳😳🚨🚨

BTC dropped over 2% to $56,700, failing to stay above the $58,000 mark. This comes after a high of $65,000 in late August, but recent recovery attempts have been brief.

- Market Sentiment:Analysts point to ongoing fears of a U.S. recession, with many investors taking a "sell-on-rise" approach. Economic indicators, such as the ISM manufacturing index and job openings, fell short of expectations, deepening uncertainty.

- Analyst View:Valentin Fournier from BRN suggests being cautious and advises reducing exposure to BTC until a clearer buying opportunity presents itself.

- Broader Market:Other major cryptocurrencies like ETH, XRP, and TON also faced declines, with the CoinDesk 20 Index (CD20) posting a modest gain of just 0.9%.

- Economic Data:The U.S. Bureau of Labor Statistics reported 7.67 million job openings, below the expected 8.1 million, and the Federal Reserve’s Beige Book signaled a cooling labor market.

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