{"id":14177,"date":"2024-06-08T11:28:34","date_gmt":"2024-06-08T08:28:34","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-price-dips-below-69000-amid-us-unemployment-data\/"},"modified":"2024-06-08T11:28:34","modified_gmt":"2024-06-08T08:28:34","slug":"bitcoin-price-dips-below-69000-amid-us-unemployment-data","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-price-dips-below-69000-amid-us-unemployment-data\/","title":{"rendered":"Bitcoin Price Dips Below $69,000 Amid US Unemployment Data"},"content":{"rendered":"

On Friday, June 7, the price of the leading cryptocurrency fell below $69,000 following the release of US unemployment data.<\/p>\n

\"Snimok-ekrana-2024-06-08-v-11.02.57\"
Hourly BTC\/USDT chart on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

At the time of writing, Bitcoin is trading at $69,500.<\/p>\n

Following Bitcoin’s decline, other top-10 cryptocurrencies by market capitalization also fell. Dogecoin and Solana were the hardest hit, losing 8% and 5.1% respectively over the past day.<\/p>\n

\"Snimok-ekrana-2024-06-08-v-11.04.44\"
Data: CoinGecko<\/a>.<\/figcaption><\/figure>\n

The total cryptocurrency market capitalization stands at $2.67 trillion.<\/p>\n

One of the notable decliners was the token of the gaming Web3 project Notcoin. At one point, NOT plummeted from $0.022 to $0.018.<\/p>\n

\"Snimok-ekrana-2024-06-08-v-11.07.28\"
Hourly NOT\/USDT chart on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

At the time of writing, NOT is trading at $0.02.<\/p>\n

According to Coinglass<\/a>, the liquidation volume over the past 24 hours reached $410 million, with $361 million in long positions.<\/p>\n

\"Snimok-ekrana-2024-06-08-v-11.09.22\"
Liquidation map. Data: Coinglass.<\/figcaption><\/figure>\n

According to a report<\/a> from the BLS<\/span>, the US unemployment rate rose to 4% in May (+0.3% year-on-year). The total number of unemployed increased to 6.6 million from 6.1 million a year earlier. The labor market added 272,000 new jobs over the month, exceeding forecasts.<\/p>\n

Earlier, analysts at Standard Chartered predicted Bitcoin would reach $100,000 by November. They added that if Donald Trump wins the US presidential election, the digital gold could soar to $150,000 by the year’s end.<\/p>\n

Former BitMEX CEO Arthur Hayes highlighted changes in the macroeconomic backdrop and urged buying the leading cryptocurrency.<\/p>\n

Experts at Bitfinex believe Bitcoin will form a peak during the current bull market at some point in the fourth quarter of 2024. They also noted the potential for further growth.<\/p>\n

Robert Kiyosaki, author of the bestseller “Rich Dad, Poor Dad,” predicted the first cryptocurrency would reach $300,000 by August 25.<\/p>\n","protected":false},"excerpt":{"rendered":"

On Friday, June 7, the price of the leading cryptocurrency fell below $69,000 following the release of US unemployment data. Hourly BTC\/USDT chart on Binance. Data: TradingView. At the time of writing, Bitcoin is trading at $69,500. Following Bitcoin’s decline, other top-10 cryptocurrencies by market capitalization also fell. Dogecoin and Solana were the hardest hit, […]<\/p>\n","protected":false},"author":1,"featured_media":14176,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480],"class_list":["post-14177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=14177"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14177\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/14176"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=14177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=14177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=14177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}