New Sentiment + Jobs Report Indicates Another Crypto Wild Ride Weekend
Looking at recent macro and sentiment data shows new indicators for Bitcoin, ETH, and Key Altcoins AVAX, ETH, ADA, SOL
On this episode, we're diving into sentiment data vs technical analysis on Bitcoin $BTC, Ethereum $ETH, and other cryptocurrencies post-fed meeting. Are we about to see a major pull-back or a continuation rally? Key indicators and new sentiment reports reveal a unique situation with Bitcoin.
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Trends cooling on #BTC but the high side of Amplification Sentiment is still on the upswing which could make for an interesting weekend. Watch this closely over the next week as our anticipation is a new trend developing should top-line sentiment not hold above 66.3.
As indicated on what to watch for in our Substack Post yesterday - Jobs will be a key indicator. Bitcoin reacted negatively to U.S. unemployment data for January, which beat expectations with overall jobless figures falling to their lowest since 1969. This will indicate further pressure from the FED in future months.
Non-farm payrolls (NFP) data likewise outperformed, while average hourly earnings conformed to forecast 0.3% growth.