Bitcoin slides near $90,000 amid economic uncertainty
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Summary
Bitcoin (BTC/USD) fell to $91,000 on Thursday as market jitters ahead of the US jobs report and ETF outflows weighed on sentiment. Although prices rebounded to $94,000 early Friday, traders remain cautious, with volatility expected to rise as the market digests key economic data.
BTC/USD under pressure
Bitcoin’s quest to reclaim six-digit territory has faltered as macroeconomic concerns and investor behavior add pressure:
Jobs report looms
The US Nonfarm Payrolls (NFP) report for December, expected to show 154,000 new hires versus November’s 227,000, has traders on edge. Any surprises in job growth could ripple across risk assets, including Bitcoin.
Bitcoin’s correlation with traditional markets remains uncertain, but significant economic surprises could drive volatility in the digital asset space.
ETF outflows surge
Bitcoin ETFs witnessed a massive $583 million outflow on Wednesday, marking the second-largest daily redemption since their launch in January 2024. This highlights investor caution and profit-taking after Bitcoin’s mid-December peak of $108,000.
Market sentiment weakens
Despite a strong start to 2025, Bitcoin has lost momentum, dipping away from its record highs. Concerns over the Federal Reserve’s monetary policy and economic uncertainty continue to weigh on sentiment.
Technical analysis: key levels to watch
Support levels
$90,000 – immediate psychological support where recent buying interest emerged.
$88,500 – next critical support level aligning with a short-term trendline.
Resistance levels
$95,500 – immediate resistance where early Friday’s rebound stalled.
$100,000 – psychological barrier and key level to reclaim bullish momentum.
The Relative Strength Index (RSI) suggests Bitcoin is approaching oversold territory, indicating potential for short-term stabilization.
Outlook for BTC/USD
Macro risks persist
As the market awaits today’s US jobs report, Bitcoin’s direction remains tied to broader economic signals. A stronger-than-expected NFP could fuel concerns about prolonged Federal Reserve hawkishness, pressuring risk assets like Bitcoin.
Investor behavior signals caution
The sharp ETF outflows reflect waning confidence among institutional investors, even as retail traders continue to scoop up Bitcoin during dips.
Recovery hinges on breaking resistance
A decisive move above $95,500 could signal renewed optimism, but failure to hold $90,000 may pave the way for further downside, potentially targeting $88,500.
Conclusion
Bitcoin faces heightened volatility as traders eye US economic data and ETF redemption trends. While the short-term outlook is clouded by macro uncertainties, Bitcoin’s long-term bullish narrative remains intact, with key resistance levels presenting opportunities for recovery.
Bitcoin (BTC/USD) fell to $91,000 on Thursday as market jitters ahead of the US jobs report and ETF outflows weighed on sentiment. Although prices rebounded to $94,000 early Friday, traders remain cautious, with volatility expected to rise as the market digests key economic data.
BTC/USD under pressure
Bitcoin’s quest to reclaim six-digit territory has faltered as macroeconomic concerns and investor behavior add pressure:
Jobs report looms
The US Nonfarm Payrolls (NFP) report for December, expected to show 154,000 new hires versus November’s 227,000, has traders on edge. Any surprises in job growth could ripple across risk assets, including Bitcoin.
Bitcoin’s correlation with traditional markets remains uncertain, but significant economic surprises could drive volatility in the digital asset space.
ETF outflows surge
Bitcoin ETFs witnessed a massive $583 million outflow on Wednesday, marking the second-largest daily redemption since their launch in January 2024. This highlights investor caution and profit-taking after Bitcoin’s mid-December peak of $108,000.
Market sentiment weakens
Despite a strong start to 2025, Bitcoin has lost momentum, dipping away from its record highs. Concerns over the Federal Reserve’s monetary policy and economic uncertainty continue to weigh on sentiment.
Technical analysis: key levels to watch
Support levels
$90,000 – immediate psychological support where recent buying interest emerged.
$88,500 – next critical support level aligning with a short-term trendline.
Resistance levels
$95,500 – immediate resistance where early Friday’s rebound stalled.
$100,000 – psychological barrier and key level to reclaim bullish momentum.
The Relative Strength Index (RSI) suggests Bitcoin is approaching oversold territory, indicating potential for short-term stabilization.
Outlook for BTC/USD
Macro risks persist
As the market awaits today’s US jobs report, Bitcoin’s direction remains tied to broader economic signals. A stronger-than-expected NFP could fuel concerns about prolonged Federal Reserve hawkishness, pressuring risk assets like Bitcoin.
Investor behavior signals caution
The sharp ETF outflows reflect waning confidence among institutional investors, even as retail traders continue to scoop up Bitcoin during dips.
Recovery hinges on breaking resistance
A decisive move above $95,500 could signal renewed optimism, but failure to hold $90,000 may pave the way for further downside, potentially targeting $88,500.
Conclusion
Bitcoin faces heightened volatility as traders eye US economic data and ETF redemption trends. While the short-term outlook is clouded by macro uncertainties, Bitcoin’s long-term bullish narrative remains intact, with key resistance levels presenting opportunities for recovery.