Bitcoin held steady over $27K after rising before US equity markets opened Friday. An unexpectedly strong jobs report also seemed to leave investors unstirred. JPRubin23 writes
Bitcoin rose a little on Friday, but largely shrugged off an unexpectedly strong jobs report, along with a week’s worth of upset and uproar over the U.S. debt ceiling, end-game negotiations and renewed inflation concerns.
The largest cryptocurrency by market capitalization was recently trading at about $27,180, up 1.2%. BTC edged above $27,000 shortly before U.S. equity markets opened on Friday after spending much of the previous two days well below this threshold, a result largely of the sort of inflationary angst that has hobbled prices over the past 18 months.
“Bitcoin is holding steady after a busy week filled with a debt limit deal, a complicated jobs report that showed both robust hiring and surging layoffs, and as lawmakers inch towards figuring out how to regulate crypto,” Edward Moya, senior market analyst at foreign exchange market maker Oanda, wrote in an email, flagging recent discussion of a Securities Clarity Act that could clarify “if some tokens are unregistered securities.
Almost without exception, other major cryptos spent the day solidly in positive territory with ADA and SOL, the tokens of the Cardano and Solana smart contract platforms, recently rising more than 4% and 3.5%, respectively. Meanwhile, a bevy of small DeFi focused protocols were
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