Crypto analyst Benjamin Cowen believes that the US unemployment rate could have a significant impact on Bitcoin. He suggests that if the unemployment rate continues to rise, Bitcoin may remain in a bear market and struggle to break through its lower-high price structure. Cowen points to historical correlations between employment data and risk assets, and highlights patterns from previous economic cycles. He emphasizes the importance of the labor market in determining Bitcoin's trajectory and warns against discounting its impact. At the time of writing, Bitcoin is trading at $63,331, down 3.1% in the last 24 hours.



Other News from Today