by Coinstrooper Crypto Articles
Quick Take
  • Bitcoin has successfully regained its footing above the $90,000 threshold following a brief decline toward $89,000 yesterday.
  • The upward momentum follows strong employment data published by the Bureau of Labor Statistics earlier today.
  • The report revealed that nonfarm payrolls grew by 50,000 positions last month, though previous months saw downward adjustments.
  • The unemployment rate declined to 4.4%, recovering after an extended government shutdown period.

What Happened

Corporate layoff announcements decreased last month while hiring intentions increased, and the services sector recorded its strongest employment expansion since February.

Crypto investor RektCapital shared a similar optimistic outlook, noting that Bitcoin is testing the $93,500 level again, which represents both the weekly range resistance and aligns with a multi-week downtrend established in mid-October 2025.

Market Context

The leading cryptocurrency rallied from approximately $89,200 to roughly $92,000 over six hours, supported by substantial spot trading activity exceeding $39 billion, according to Coingecko’s market data.

Market analysts note that “limited layoffs combined with measured hiring indicate a moderating rather than deteriorating labor market as the Fed considers its next policy move.”

Market participants continue to expect officials to maintain current rates at the January meeting.

Meanwhile, Polymarket odds stand at 97% that the Fed will hold rates steady at the January 28 FOMC meeting.

Crypto analyst Bitbull notes that Bitcoin’s recent recovery has allowed it to escape a three-month downward trend, now maintaining a position above the breakout threshold.

According to RektCapital, “this marks only the third significant test of this downtrend.”

Such a development would position Bitcoin to challenge the converging bull market exponential moving averages above—the 50-week EMA at $96,000 and the 21-week EMA at $101,000.

RektCapital emphasizes that “historical patterns suggest a strong probability of breaking through these EMAs.”

While a weekly range breakout and downtrend breach would indicate positive momentum, the analyst stresses that reclaiming the bull market EMAs as support levels represents the key milestone for firmly reestablishing bullish momentum.

Why It Matters

The weekly RSI indicator suggests further gains ahead, with the analyst projecting “BTC could reach $103K-$105K within 3-4 weeks.”

Details

Bitcoin has successfully regained its footing above the $90,000 threshold following a brief decline toward $89,000 yesterday.

The upward momentum follows strong employment data published by the Bureau of Labor Statistics earlier today.

Strong Jobs Data Sparks Rally: Fed Rate Hold at 97% Odds

The report revealed that nonfarm payrolls grew by 50,000 positions last month, though previous months saw downward adjustments. The unemployment rate declined to 4.4%, recovering after an extended government shutdown period.

The moderate softening of the U.S. employment led the Federal Reserve to implement three consecutive rate reductions in late 2025.

Despite marking one of the weakest hiring periods since 2009, companies have generally avoided widespread workforce reductions.

However, additional employment indicators point to stabilization.

Federal Reserve policymakers, scheduled to convene later this month, remain divided on the extent of additional rate cuts for the year.

Analysts Eye $105K Target as Bitcoin Breaks 3-Month Downtrend

He anticipates that a weekly close above $93,500, followed by a successful retest similar to previous patterns, would validate both a weekly range breakout and a breach of the weekly downtrend.

For Bitcoin to advance toward six-figure territory, achieving a range breakout and breaching the weekly downtrend are prerequisites for approaching those EMA levels.

Data from Bitfinex reveals that large holders are rapidly closing their Bitcoin long positions.