Bitcoin, Ethereum, XRP, Dogecoin Slide As Strong Jobs Data Sparks Risk-Off Move

Bitcoin is trading lower Wednesday as stronger-than-expected U.S. jobs data fueled macro headwinds and triggered another wave of risk-off selling.

Notable Developments:

• BlackRock Makes Historic DeFi Move As Uniswap Deal Sends UNI 15%
• Beware Dip Buyers, Bitcoin Is Entering Its ‘Winter Phase’, New Report Finds
• Why Bitcoin’s $126,000 Top Forced A Structural Reset Towards $60,000
• Coinbase CEO Brian Armstrong Drops Out Of World’s Top 500 Billionaires Amid Crypto Market Downturn
• ‘Everyone Thinks Trump Is Our Friend—He’s Not’: Mark Yusko Exposes Crypto Reality
• Ripple Wins Aviva Deal For XRP Ledger, But XRP Dips Towards $1.30
• Indian Lawmaker Urges Legal Status For Crypto, Stablecoins To Prevent Them Going Offshore: ‘Let Us Not Fear Innovation, Let Us Regulate It’

Trader Notes: Crypto Tony said the precise bottom remains uncertain but identified $64,000 as the strongest support zone due to heavy technical confluence.

He would prefer to see price sweep into that area and print a strong impulsive bounce, a move that could reset momentum and establish a clearer recovery structure.

Trader Jelle believes a multi-week consolidation within the highlighted support zone would likely mark the cycle low.

He pointed to improving macro conditions, including the end of quantitative tightening and a shift toward more expansionary policy, as supportive for Bitcoin’s longer-term outlook.

Rather than attempting to time the exact bottom, Jelle’s approach is to wait for clear evidence of sustained demand before re-entering in alignment with the broader trend.

Stockmoney Lizards expects price action like 2022 — an extended bottoming phase marked by re-accumulation, sharp volatility and liquidity wicks on both sides before any sustained breakout.

The analyst flagged $53,000 as a potential range low but maintained a bullish outlook over the higher time frame.

Image: Shutterstock