4E: BTC falls below key support, the overall crypto market pulls back, waiting for US employment data

Odaily Planet Daily News In the past two days, the price of Bitcoin (BTC) has continued to weaken, falling from a high of $105,000 to around $101,500, a drop of more than 3%. Although it tried to rebound at the beginning of this week, it failed to successfully break through the key resistance level of $107,500, causing market sentiment to become conservative. The entire crypto market pulled back synchronously, with the market value falling to about $2.3 trillion, a drop of more than 5% in 24 hours. Ethereum (ETH) fell below $3,700, and mainstream currencies such as Solana (SOL) and Avalanche (AVAX) all fell to varying degrees. Analysts believe that the current market lacks a clear catalyst for rising prices, and funds tend to wait and see. Investors are closely watching the non-farm payrolls data for May to be released this Friday. If the number of new jobs is lower than expected, it may strengthen the market's bet on interest rate cuts this year, thereby providing support for risky assets. In addition, Federal Reserve Chairman Powell's recent speech did not explicitly mention the economic outlook, triggering market concerns about "dovish expectations being dashed." 4E reminds that the crypto market is at a critical juncture where macroeconomic games and technical adjustments intersect. Investors are advised to remain patient and wait for further clarity from the Federal Reserve and economic data.