Bitcoin falls 5% in the week and struggles not to lose $60,000 due to risk aversion

MADRID 4 Oct. () –

Bitcoin, the most valuable and best-known cryptocurrency on the market, accumulated a weekly depreciation of more than 5%, reaching around $61,000 at closing time in Europe, in a context marked by the aversion to risk assets after the new war intensity that has emerged in the Middle East between Israel and Iran.

According to market data consulted by Europa Press, the cryptocurrency is struggling not to lose the level of 60,000 dollars after having started the week at 66,000 ‘greenbacks’.

In this way, bitcoin has largely seen the increases it experienced in the month of September reversed, a period in which the digital asset rose 8.2%.

All in all, the truth is that bitcoin has found an element of bullish support this Friday afternoon in the latest US employment report, which has been much better than expected by analysts.

Going into detail, the US economy generated 254,000 new non-agricultural jobs during the month of September, a figure higher than the 159,000 created in August, while the unemployment rate fell one tenth, to 4.1%.

“This data certainly points to a cut of 25 basis points instead of 50 basis points as seemed to be discounted until now in November,” noted market analyst Manuel Pinto.

In short, this alleged slowdown in interest rate decreases by the Federal Reserve (Fed) has once again given air to the cryptocurrency and investor appetite, since in this Friday’s daily result it manages to rebound by 2% .

Ethereum, the second most valuable cryptocurrency, suffers a similar fate: in the week it accumulates a decline of 9% due to geopolitical tension, but this Friday it rebounds 4% due to the cooling in the rate outlook, until trading at $2,430.

GOLD, WAITING IN A ZONE OF MAXIMUMS On the other hand, it is worth noting that gold, the safe haven asset par excellence, seems not to take advantage of the feeling of fear among investors, since during the week it fell by 0.5%, reaching at $2,650.

All in all, it is worth noting that the precious metal remains very close to its historical highs, reached on September 26 at $2,685.