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$BTC Bitcoin saw a notable recovery on Wednesday after buyers managed to defend the critical support level at $85,000, with the price rising from $85,427 to $87,918 before slightly retreating and settling at $87,305 at the time of writing.
The recovery came after the release of the U.S. jobs data for November, which surpassed expectations, showing an increase of 64,000 non-farm jobs, exceeding the forecast of 45,000, while the unemployment rate rose to 4.6%, the highest since September 2021.
The data highlighted a contradictory scenario: strong labor market conditions may give the Federal Reserve more leeway to focus on inflation, while rising unemployment suggests that the central bank may introduce further interest rate cuts to support the economy, which typically encourages an increase in Bitcoin and major cryptocurrencies' prices.
The digital currency also benefited from a wave of short position liquidations, with CoinGlass data showing $38 million worth of short positions liquidated in 24 hours, compared to $23.5 million for long positions, unexpectedly boosting buying pressure in the market #BTCVSGOLD

#FOMCWatch Bitcoin witnessed a notable recovery on Wednesday after buyers managed to defend the critical support level at $85,000, with the price rising from $85,427 to $87,918 before pulling back slightly and settling at $87,305 at the time of writing the report.
The recovery came after the release of U.S. jobs data for November, which was stronger than expected, showing an increase in non-farm payrolls by 64,000 jobs, exceeding expectations of 45,000, while the unemployment rate rose to 4.6%, the highest since September 2021.
The data highlighted a contradictory scenario: the strength of the labor market may give the Federal Reserve more leeway to focus on inflation, while rising unemployment suggests that the central bank might provide further rate cuts to support the economy, which usually encourages increases in Bitcoin and major cryptocurrencies prices.
The digital currency also benefited from a wave of short position liquidations, as CoinGlass data showed $38 million in short liquidations over 24 hours, compared to $23.5 million for long positions, which unexpectedly boosted buying pressure in the market.

en|en|#USJobsData The Bitcoin currency experienced a significant recovery on Wednesday after buyers managed to defend the crucial support level at $85,000, where the price rose from $85,427 to $87,918 before slightly retreating and stabilizing at $87,305 at the time of writing.
The recovery came following the release of the US jobs data for November, which was stronger than expected, showing an increase in non-farm jobs by 64,000, exceeding expectations of 45,000, while the unemployment rate rose to 4.6%, the highest since September 2021.
The data highlighted a contradictory scenario: the strength of the labor market may give the Federal Reserve more leeway to focus on inflation, while rising unemployment suggests the central bank may provide further interest rate cuts to support the economy, which typically encourages the rise of Bitcoin and major cryptocurrencies.
The digital currency also benefited from a wave of short position liquidations, with CoinGlass data showing short liquidations worth $38 million over 24 hours, compared to $23.5 million for long positions, which unexpectedly boosted buying pressure in the market $BNB

#USNonFarmPayrollReport Bitcoin experienced a remarkable recovery on Wednesday after buyers managed to defend the critical support level at $85,000, with the price rising from $85,427 to $87,918 before pulling back slightly and settling at $87,305 at the time of writing the report.
The recovery came after the release of the U.S. jobs data for November, which was stronger than expectations, showing an increase in non-farm payrolls by 64,000 jobs, exceeding expectations of 45,000, while the unemployment rate rose to 4.6%, the highest since September 2021.
The data highlighted a contradictory scenario: the strength of the labor market may give the Federal Reserve more leeway to focus on inflation, while the rise in unemployment suggests that the central bank may provide more interest rate cuts to support the economy, which typically encourages higher prices for Bitcoin and major cryptocurrencies.
The digital currency also benefited from a wave of short position liquidations, as CoinGlass data showed $38 million worth of short positions were liquidated within 24 hours, compared to $23.5 million for long positions, significantly enhancing buying pressure on the market unexpectedly $BTC