Continuing Claims came in hotter than expected,” Blacknox, cofounders of trading resource Material Indicators, reacted on X. “BTC is in price discovery, and the market wants to celebrate the good news and ignore the bad news.”Fellow co-founder Keith Alan described the jobless numbers as “a bit more fuel for BTC momentum.”“Keep watching Bitcoin and Gold,” trading resource The Kobeissi Letter continued.
Related: Bitcoin 'looks exhausted' as next bear market yields $69K targetVolatility and mass profit-taking, they noted, were both conspicuously lacking at $111,000.“Can't recall a time in history where $BTC just casually traded around in a 1% range at all time highs,” popular trader Daan Crypto Trades told X followers. “Bigger move following once it breaks this local tiny range.
Source: CoinGlassElsewhere, onchain analytics platform Glassnode flagged steadfast resolve among hodlers despite 100% supply profitability.“When $BTC hit all-time high yesterday, total profit-taking volume was around $1.00B - less than half the amount realized when Bitcoin first crossed $100K last December, which hit $2.10B,” it noted on the day. “Despite a higher price, profit realization was far more muted.”Bitcoin spent volume by coin dormancy.
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Author / Journalist: Cointelegraph by William Suberg
The story "BTC price eyes $112K as risk assets 'ignore bad news' on unemployment" has 475 words across 20 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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