Bitcoin and Ethereum showed opposite movements following the release of combined October and November U.S. nonfarm payroll data, which revealed the highest unemployment rate since 2021 at 4.6%. Although Bitcoin initially dropped, it ended up rising 1.4% to $87,400, while Ethereum fell 0.5%, trading around $2,935.
Prediction markets indicate a 69% chance that Bitcoin will return to $100,000 before dropping to $69,000, with potential Fed rate cuts providing support. The BTC pullback mainly affects new investors, while long-term holders maintain gains.
Among the top 10 cryptocurrencies, Ethereum leads the losses at -0.5%, followed by XRP, Solana, and TRON with declines of up to 1%, while BNB rose 0.7%. In the last 24 hours, $582 million in liquidations occurred, mainly across Bitcoin and Ethereum.
Spot BTC and ETH ETFs recorded net outflows of $357.7M and $224.8M, respectively, while XRP and Solana ETFs saw net inflows. Analysts project at least two Fed rate cuts in 2026, which could strengthen liquidity and support crypto market recovery.
Source: https://coinmarketcap.com/currencies/bitcoin/
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