Bitcoin began the Wall Street opening session immersed in an intense struggle to capture Bitcoin liquidity, reacting immediately to mixed U.S. employment data. According to trading resource Material Indicators, bulls and bears are facing off in a tight range to define the digital asset’s trend. The dispute centers on key levels as the market seeks clear direction after the open.
Recent market data shows strong resistance forming just above $87,000, significantly hindering the advance of buyers. On the other hand, bid liquidity is concentrating near $85,000 with the goal of defending the critical support of the simple moving average. This 100-week technical level at $84,646 acts as an essential barrier for prices.
Likewise, the macroeconomic environment adds complexity to the scenario with a U.S. unemployment rate reaching 4.6%, exceeding previous expectations. The American economy added more jobs than anticipated in November, sending conflicting signals about the real robustness of the current labor market to investors. These mixed indicators have generated notable uncertainty among risk asset traders.
Convergence of technical and fundamental signals in the market
The Kobeissi Letter concluded that the labor market is weakening, even though stocks attempted to regain ground at the start of the trading week. However, cryptocurrency traders felt no immediate relief, as the price remained tied to existing order clusters in the book. Correlation with traditional markets continues to influence price action in the short term.
Furthermore, the trader known as Kay argued that the market could face a final bearish leg driven primarily by retail selling before a real rally. According to his analysis, previous drops were triggered by sales from early holders and ETFs, projecting a recovery towards the first quarter of 2026. A theory of a final market flush before reaching new all-time highs is proposed.
Is there a clear path for Bitcoin to touch six figures?
On the other hand, analyst Crypto Tony indicated that the current reaction is sub-par, suggesting a possible drop towards the $84,000 region. In contrast, commentator exitpump observed huge bid liquidity situated lower, specifically towards the $80,000 mark as a safety net. The chances of a bullish breakout depend on overcoming current sell barriers with volume.
Finally, the attention of all participants is now focused on the upcoming Consumer Price Index report to be released this Thursday. Thus, investors remain cautious, waiting to see if inflation data will provide the necessary catalyst for the next major move towards $95,000. The market remains in a state of tense waiting ahead of upcoming key economic events.
