Bitcoin Teetering Around $97,000: What Does Technical Analysis Say?
Posted On February 10, 2025
Cryptocurrency analyst Benjamin Cowen sees recent labor market data and inflation expectations potentially having significant implications for Bitcoin’s (CRYPTO: BTC) price trajectory in the near term.
What Happened: In a podcast on Feb. 9, Cowen highlighted the unexpected drop in the U.S. unemployment rate to 4% and a sharp increase in inflation expectations as key factors that could influence Bitcoin’s performance.
He notes that the unemployment rate coming in below 4.1% could “reinvigorate inflationary fears,” potentially leading to a bounce along the yield curve.
The analyst also draws attention to the significant jump in U.S. Michigan one-year inflation expectations, which rose from 3.3% to …
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