BTC - Bitcoin Ethereum Dogecoin Pull Back As Market Pins Hopes On Key Jobs Data To Push King Crypto To New ATH | Benzinga
Leading cryptocurrencies retreated Thursday as investors took a cautious approach before the eagerly awaited U.S. labor market data.
What Happened: Bitcoin surged to $71,500 during the day on the European Central Bank's rate cut, but faced strong resistance immediately, bending below $71,000. The King Crypto has wobbled in a narrow trading range since May 20.
Ethereum witnessed strong selling pressure, dropping below $3,850.
Open Interest in Bitcoin futures rose 0.18%. An increase in OI coming alongside a drop in price typically indicates the opening of new short positions, interpreted as a bearish sign.
That said, the number of traders taking long positions for Bitcoin increased vis-à-vis those shorting the asset in the last 24 hours.
Investors looked forward to the nonfarm payrolls data to move the market in ...