Bitcoin’s price saw a 4% increase in response to strong US economic data, with traders predicting a $92,000 dip for the cryptocurrency.
The recent surge in Bitcoin’s value was triggered by the latest US job report, which showcased stronger-than-expected economic growth. This news has led Bitcoin traders to forecast a potential drop to $92,000 in the near future.
Market experts believe that the correlation between Bitcoin’s price and macroeconomic data is becoming increasingly evident, indicating that external factors can greatly impact the cryptocurrency market.
Despite the short-term increase, investors are urged to remain cautious and closely monitor market trends to make well-informed decisions when trading Bitcoin.
Source: Cointelegraph
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