Friday’s data revealed that U.S. job growth accelerated in December, pushing the 10-year Treasury yield to a 14-month high. This increases the likelihood of fewer interest rate cuts in 2025, making emerging markets like India less attractive as investments.
The U.S. added 256,000 jobs in December, exceeding expectations of 165,000, and revised expectations for only one interest rate cut in 2025.
crypto tracker
As of 11am IST, Bitcoin was trading 1.1% lower at $93,296, while Ethereum was down 1.3% at $3,186. Markets have fallen slightly since stronger-than-expected economic data suggested the Fed could pause rate cuts. 2025,” CoinSwitch Market Desk said.
Edul Patel, CEO of Mudrex, said: “Profit-taking continued after US non-agricultural data came in better than expected. “The price needs to sustain above $2,300, with resistance at $96,300.” : Risk or opportunity for loyal investors? Major altcoins also fell on Monday. XRP is down 3%, BNB is down 2.1%, Solana is down 2.2%, Dogecoin is down 3.75%, Cardano is down 7%, Tron is down 5.2%, Avalanche is down 5%, and Sui is down 7.5%. The global cryptocurrency market capitalization decreased by 0.9% to $3.26 trillion.
“Altcoins have fallen further, with Cardano, Tron, Sui, and Avalanche down over 4%. Ethereum is trading near $3,200. Traders should avoid leveraged positions until a clear trend emerges. ” advised Vikram Subraj, CEO of Geotas.
According to data available on CoinMarketCap, the circulation of all stablecoins currently stands at $75 billion, which corresponds to 91.38% of the total 24-hour circulation of the cryptocurrency market.
In the past 24 hours, the market capitalization of Bitcoin, the world’s largest cryptocurrency, has fallen to $1.856 trillion. According to CoinMarketCap, Bitcoin’s dominance is currently 56.91%. BTC trading volume in the past 24 hours increased by 67.3% to $29.08 billion.
Technical insights from Sathvik Vishwanath, Co-founder and CEO of Unocoin
Bitcoin recently tested the $100,000 level but was unable to sustain it, falling to the key support at $92,000. On the daily chart, this support has been held several times, but a retest could increase the probability of failure and target $85,000. Conversely, if you hold $92,000, BTC could try to move higher towards $100,000 or more.
The 4-hour chart is dominated by bearish momentum, with no significant signs of recovery.
(Disclaimer: Recommendations, suggestions, views and opinions given by experts are their own. They do not represent the views of Economic Times)
