Cryptocurrency markets saw some losses yesterday, as investors reacted to last weeks US nonfarm payrolls (NFP) report. The report came in greater than expected, at 250,000 versus the economist's prediction of 180,000 jobs, invoking much speculation from the sidelines. Both Bitcoin (BTC) and Ethereum (ETH) saw losses, with BTC reaching an intraday low of $27,691.26 and ETH flashing a reading at a low of $1,839.89.

The NFP job number, combined with the 0.25% interest rate hike from the Federal Reserve, sparked a capital flow from Bitcoin and Ethereum as investors drew a conclusion that the economic situation in the US was improving and that the Fed wouldn't be lending its influence to the crypto markets in its current state. In addition to the changing NFP and interest rate dynamics, the Relative Strength Index (RSI) also had a hand in driving prices lower, with BTC falling below the support of 47.00 and ETH dropping below 49.00.

These transgressions caused traditional signs of fear and trader anxiety, leading to a loss in USD value for both coins. BTC fell by $1,428.12 and Ethereum with $94.11. Technical indicators suggest that these numbers may continue to diminish as long as the RSI of both continue to target points of support like 42.00 for BTC and 45.00 for ETH.

It is uncertain how well these lower numbers will hold in these volatile cryptocurrency markets, but the factors in play suggest that the prices of both coins may remain low for the foreseeable future. The NFP report and its implications for the Federal Reserve brings an uncertainty to the crypto markets, where investors have to be extra weary of the economic landscape before making their next moves. The RSI continues to be an important marker during changing sentiment, as its fluctuations can make or break an investor's decision in the crypto market. It is crucial that investors be aware of theseimportant factors before deciding to stay in the crypto markets or sell their digital assets.



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