Bitcoin faces a critical test at $85,000, with Wall Street focused on multiple US inflation and employment data releases this week.
Glassnode analysis shows that the $84,000-$85,000 range is a concentrated buying area for Bitcoin long-term holders, and Bitcoin is now testing this critical price zone after hitting an intraday low of $82,563 on September 28. This week, Wall Street will see three key US economic data releases: the August Personal Income and Outlays report on September 30, the September ISM Manufacturing Survey on October 1, and the September jobs report on October 2. These data points could send mixed signals about inflation and the labor market, potentially influencing market expectations for the Federal Reserve's interest rate path.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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