The US Job Report Defiles Its Past Results As It Exceeds Expectations

US

The latest US job report brought some brief instability for Bitcoin, However, the asset remained calm overall, around $17,000.

Most Altcoins are also quite unresponsive now, and the only exceptions are UNI, LEO, and QNT.

After last weekend’s lack of instability, Bitcoin headed straight south on Monday, dropping to $16,000. The bulls rose at this point and pushed it north to almost $17,000.

After a few days of inability to break above that level, this finally happened on December 1 when the asset skyrocketed to $17,250, which became its highest price level in over two weeks.

Notwithstanding, the generally bearish sentiment didn’t allow any further increases, and BTC returned to $17,000. This was expected to change yesterday when the US was set to reveal the latest job report about November.

As it beat expectations, BTC started to lose value in line with the largest US-based stock market indices. However, Bitcoin dipped by just $200 and returned to $17,000 almost immediately.

As such, its market cap and dominance over the alts have remained exactly the same, at $325 billion and 38.2%, respectively.

Most of the altcoins have been unable to produce any substantial price moves either. Ethereum went from under $1,200 to above $1,300 in the past several days but has not stalled at just below the latter.

From the larger-cap alts, only Cardano has made a bigger move than 1%. The rest, including Binance Coin, Ripple, Dogecoin, Polygon, Polkadot, Shiba Inu, OKB, and LTC, are with either insignificant gains or minor losses.

UNI, QNT, and LEO are the only exceptions from the top 20 assets by market cap. All three have added somewhere between 5-6% and trade at $6.3, $130, and $4, respectively.

The crypto market cap still just over $850 billion.

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