BlackRock (BLK) ranked third, behind Satoshi Nakamoto and Binance Exchange.
Key Reports to Influence BTC Price Trends
On Thursday, US jobless claims, GDP, and housing sector data require investor consideration. The US jobless claims may have a more significant impact on the global markets as the Fed scrutinizes the US labor market.
Economists expect initial jobless claims to remain unchanged at 232k in the week ending August 24. An unexpected spike in jobless claims could retrigger US recession fears, possibly impacting buyer demand for BTC-spot ETFs and BTC.
Investors should remain alert amid possible changes to supply-demand trends. Stay updated with our latest news and analysis to manage exposure to BTC and the broader crypto market.
Technical Analysis
Bitcoin Analysis
BTC remained below the 50-day and 200-day EMAs, affirming bearish price signals.
A breakout from the 200-day EMA and the $60,365 resistance level could give the bulls a run at the 50-day EMA. Furthermore, a break above the $64,000 resistance level could lead to a move toward the $69,000 resistance level.
US labor market data, sentiment toward the Fed rate path, and BTC-spot ETF market flow trends require consideration.
Conversely, a fall through $57,500 could give the bears a run at $55,000. A break below $47,500 may signal a drop to the $52,884 support level.
With a 44.54 14-Daily RSI reading, BTC may fall below $55,000 before entering oversold territory.
