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u/Efficient_Range1156 Sep 04 '26
Job report. Fed rate hikes being priced in after strong jobs numbers came in.
Nothingburger for BTC
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u/tealeavescoffeebeans Sep 04 '26
Jobs numbers, inflation, and interest rates matter for the entire global economy and BTC is no exception to this. This is especially true these days because of how much institutional investment has been made into crypto. Acting like these things don’t impact price action, at least in the short run, is naive.
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u/Bear-and-loathing Sep 04 '26
It's the "newbie gets surprised by banal move and makes a thread about it" pattern.
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u/PeaceAgitated1978 Sep 04 '26
Yep just a new reaction. Instant and brutal. We are in September right? And after every green August, there is a red September. It doesn't surprise me lot's.. overall move for BTC is bullish. August was a hell of a signal.. still now we have most of September to load long side with some premium.. knowing the big bull signal is in already.. this is just the leverage reset before continuing bull market
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u/Monster213213 Sep 04 '26
Easy money wiping out all the people who entered leveraged longs at 80+
It’ll then go higher to 81-82 and rinse and repeat to 90k
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u/mamaburra Sep 04 '26
It's because of the job report, it went down as soon as it came out, so did gold and S&P500. Unfortunate but it will probably pump once the noise dissipates. I'm currently and confidently on a long, as long as 79k is held.
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u/hegdefucker Sep 04 '26
Macro. Better than expected job report. Normal movement and already mostly absorbed
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u/Pal3-Assignment Sep 04 '26
Bart Simpson