The just-released US job data shows that the number of people applying for unemployment benefits is slightly higher than expected, reaching 219,000, while everyone originally thought it would be 218,000. This may sound like a bad thing, but it could actually be good news for cryptocurrencies like Bitcoin. Because the increase in unemployment numbers means that the US economy may be slowing down, which makes it more likely for the Federal Reserve to lower interest rates to stimulate the economy. A low interest rate environment is particularly favorable for cryptocurrencies.

Another big news is that BlackRock's Bitcoin investment product quickly reached a scale of $20 billion, showing strong interest from large institutions in Bitcoin. If similar products for Ethereum can also be approved in the future, the encryption market may usher in a super bull market.
However, don't rush to conclusions, because there is another key data - the core PCE for April in the United States is about to be released, which can better tell us whether inflation is under control. If the data is higher than expected, it is not good for cryptocurrencies; otherwise, it is a big piece of good news.
Now Bitcoin is like wandering at the crossroads, with its price hovering around 68,000 for three days. But from the short-term chart, the bulls (those who are optimistic about the rise) still have the upper hand. As long as there is positive news driving it, returning to $70,000 is not a dream.
In short, the market is filled with mixed good and bad news, but I will be here every day to help you understand these complex information in simple and straightforward language. Let's closely follow the pulse of the market together. Remember to follow me, so that we can outperform the majority with a deeper understanding. #MegadropLista BlackRock IBIT Bitcoin holdings surpass Grayscale GBTC #meme zone hot topics.