Bitcoin was trading lower on Thursday, ahead of tomorrow’s monthly nonfarm payrolls (NFP) report. The U.S. labor market has recently shown signs of slowing, following data this week reporting that nationwide job openings had fallen. Ethereum also dropped on the prospect of the NFP report, which is expected to come in at 250,000 jobs.
Bitcoin
After yesterday’s rebound in price, bitcoin (BTC) was back in the red on Thursday, as markets prepared themselves for tomorrow’s nonfarm payrolls report.
It is expected that Friday’s report will show an addition of 250,000 jobs to the U.S. economy in July, which is lower than June’s figure of 372,000.
As a result of this, crypto traders took a risk-off approach in today’s session, with the world’s largest token falling to a low of $22,790.66 as a result.
The move sees bitcoin once again approach its price floor of $22,600, which when broken, usually sees BTC/USD bears push the token towards $20,000.
So far this hasn’t happened, and as of writing...
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