Focus on US Jobs Report and Spot ETF Trends in Today’s Bitcoin (BTC) News

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In the world of trading and investing, staying ahead of the curve is essential. That’s why on Friday, July 5, all eyes were on the US Jobs Report and how it could impact investor expectations of a potential September Fed rate cut. If the report showed softer-than-expected US average hourly earnings and a rise in the unemployment rate, it could solidify the likelihood of a rate cut in September.

For those involved in the BTC-Spot ETF market, a more dovish Fed rate path could lead to increased buyer demand for BTC. However, concerns remain as the BTC-spot ETF market has seen a net outflow streak for three weeks now. This trend is something investors should closely monitor as it could signal potential red flags for BTC. Despite this, the BTC-spot ETF market has been a significant source of demand for BTC since its launch in January.

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When it comes to trading strategies, it’s crucial to stay informed and adapt quickly to changing market conditions. Keep an eye on real-time data and expert commentary to make informed decisions and navigate the crypto market effectively.

In terms of technical analysis, Bitcoin has been trading below the 50-day and 200-day EMAs, signaling bearish price movements. A breakout above the 200-day EMA could lead to a push towards the $60,365 resistance level, with further resistance at $64,000. On the flip side, a drop below $55,000 could indicate a fall to the $52,884 support level.

With a 29.34 14-Daily RSI reading, Bitcoin is currently in oversold territory, suggesting potential buying opportunities around the $55,000 mark.

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In conclusion, with the US Jobs Report, BTC supply side news, and market flow data all playing crucial roles, it’s essential for investors to remain vigilant and adaptable in their trading strategies. For the latest updates and insights on the market, be sure to stay connected with Extreme Investor Network. Happy trading!

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