Bitcoin, Ethereum & Solana rise fast after poor labor market figures

Bitcoin (BTC) has risen rapidly this afternoon and is now above the important limit of $ 112,000. According to analysts, this is a decisive level for the direction of the market. The race was given a new load of energy after disappointing labor market figures from the United States and statements by a director of the US Central Bank.

BTC course jumps over difficult hurdle

This morning you could already read in the Bitcoin news that the course had broken the downward trend that had been going on for almost three weeks. That happened yesterday with an increase above $ 111,000. Yet analysts still kept a blow, because Bitcoin was still trading under the resistance of $ 112,000. Until now.

This important limit was passed around 4:30 pm. At the time of writing, Bitcoin is traded for $ 112,300, which is more than 1 percent higher than 24 hours ago.

This makes the entire decrease from last Friday again made up for again. The digital currency has taken three days for this with a total increase of almost 5 percent since the low point of $ 107,265.

The next important level is around $ 116,000. But for now it is mainly important to stand above $ 112,000.

Bitcoin was already crawling up anyway, but the Jolts report seems to have given the last push. For the first time in more than four years there are now fewer vacancies than people looking for work. At the end of July, 7.18 million open jobs were written down, while the expectation was 7.357 million.

“That will almost certainly seal the interest rate reduction in September,” concludes the well -known analyst Benjamin Cowen.

And that is exactly what investors hope for. Cheaper loans bring more money into the financial system, so that more capital can flow to investments. The Futuresmarkt now estimates the chance of an interest rate reduction at 95.6 percent, according to data from CME Group.

Governor Christopher Waller from the Central Bank has also contributed. He expressed the expectations that we will get several interest rate letings on our board in the coming months.

Eth & Sol Stijks Nóg Harder

The relief can also be clearly felt in the rest of the cryptomarket. Ethereum (ETH) is 3.21 percent in the plus on a rate of $ 4,470. Solana (SOL) even knows this with an increase of 4.43 percent.

All eyes are now going to next Friday. Then we get even more important figures about the American labor market, which you can read more about in this article.