Bitcoin and Ethereum Price Predictions - BTC to Retake $17k and ETH Could Be on The March to $1,300
During the US session, BTC is consolidating just below $17,000, and the candle closes over $16,750 to maintain Bitcoin price prediction optimistically. Bitcoin's price has broken through a key moving average that has been functioning as a barrier in recent weeks.
If the remaining negative variables do not stymie the building momentum, the market appears poised to move higher in the following week. Similarly, Ethereum, the second-largest cryptocurrency, fell back into the $1,265 trading range after failing to hold above $1,275.
The cryptocurrency market continues to remain under pressure amid stronger-than-expected Labor market figures from the US. There was a larger-than-anticipated increase in hiring in the United States (223,000), and the unemployment rate fell more quickly than projected. Hourly pay increases, however, also accelerated.
The US Department of Labor reports a 203,000 annualized gain in non-farm payrolls in December. 200,000 was the increase that was anticipated by the economists.
Job gains in the private sector were revised down by a total of -28,000 from February and March. Meanwhile, the jobless rate dropped by 0.1 percentage points, to 3.5%. Furthermore, the 3.7% figure that had been predicted the previous month was revised down by 0.1 percentage points.
Hourly wages increased by 0.27% month-over-month (consensus: 0.4%), with November's data revised down by 0.2%, and by 4.5% year-over-year (back to its lowest level since mid-2020).
By industry, payroll growth mirrored the distribution seen in other reports from the previous week, with the vast majority of new jobs being created in the private sector.
The travel and leisure industry was responsible for the largest increase in employment, with 74,400
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