Despite mixed results in US jobless claims, risk assets such as Bitcoin and stocks remained stable at the beginning of the Wall Street trading session on May 22, 2025. While concerns lingered over the bond market, both Bitcoin and stocks showed resilience, with Bitcoin specifically focusing on the $111,000 mark.

Data from Cointelegraph Markets Pro and TradingView indicated that Bitcoin's price volatility was cooling in line with the stock market, even as the latest US macroeconomic data presented a conflicting view of the labor market's response to inflation trends. Initial jobless claims came in below expectations at 227,000, while continuing claims exceeded expectations by 13,000. Despite this mixed data, risk assets maintained their levels, leading analysts to draw bullish conclusions about market sentiment.

Blacknox, co-founder of trading resource Material Indicators, noted that Bitcoin was in a phase of price discovery, with the market seemingly more inclined to celebrate positive news and overlook negative news. The cofounder, Keith Alan, viewed the jobless numbers as additional fuel for Bitcoin's momentum. The Kobeissi Letter advised keeping an eye on Bitcoin and Gold amid expectations of potential government intervention in the bond market.

While Bitcoin approached all-time highs, market participants observed a lack of volatility and mass profit-taking, which stood out compared to past cycles. Popular trader Daan Crypto Trades highlighted the unusual trading range that Bitcoin was experiencing at $111,000, suggesting that a bigger move could follow once this range was broken.

Meanwhile, onchain analytics platform Glassnode pointed out the steadfast resolve among Bitcoin hodlers despite the high profitability of their holdings. Glassnode highlighted that when Bitcoin hit its all-time high, profit-taking volume was significantly lower than during previous milestones, indicating a more subdued response from investors to cash in on their gains.

Overall, the crypto market, particularly Bitcoin, demonstrated stability and resilience in the face of mixed economic data and concerns over the bond market. The lack of significant profit-taking at all-time highs and the market's focus on positive news underscored the current bullish sentiment among investors. As Bitcoin continues its price discovery phase, market participants are closely monitoring key levels and indicators to gauge the potential for further price movements.

Source: https://cointelegraph.com/news/btc-price-eyes-112k-risk-assets-ignore-bad-news-unemployment?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound