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Trading Signals

Bitcoin trades at $28,883, disappointing United States Initial Jobless Claims data

04 May 2023

BTCUSD

Slightly weaker but mostly flat: Bitcoin is currently trading at $28,883 as it maintains an active range between $28,883 and $29,343.

United States's Initial Jobless Claims new data released of 242,000 below its previous figure.
Today's down move comes after a 4 day uptrend, during which Bitcoin added 2.87% to its value.

Following a previous reading of 229,000, Initial Jobless Claims in United States released today at 12:30 UTC fell short of the 240,000 figure expected by analysts with an actual reading of 242,000. United States Interest Rate came out at 5.25, while a consensus of analysts was expecting 5.25.

Bitcoin chart analysis: Bitcoin could begin to recover as it approaches significant support, now $725.09 away from $28,158. Dipping below could be an indication that further losses are ahead.

Tomorrow at 12:30 UTC data for United States Non Farm Payrolls will be released, with an expected decline to 180,000 from the preceding figure of 236,000. As things stand, upcoming United States Unemployment Rate data is projected to fall short of market expectations with newly published data of 3.6, following on from the preceding figure of 3.5. New data is set to be published tomorrow at 12:30 UTC.

Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Bitcoin Cash descends 2.19% to trade around $117.57. UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session.

This year has been a bright one for Bitcoin after trading as low as $15,759 and going on to appreciate by 68.49% year to date.

Market Summary

Latest Crypto News

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Ether cryptocurrency trades up $15.34, approximately 0.8% higher going into tomorrow

LTC cryptocurrency trades up $0.62, approximately 0.74% higher going into tomorrow

Bitcoin Cash down $3.19 reaching $113, for its 4th straight negative day

After five days of going down, Solana is flat today, hovering around $20.62

Polkadot cryptocurrency trades up $0.036, approximately 0.64% higher this afternoon

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