Bitcoin Rises Amid Mixed US Jobs Data and Asian Market Gains Ahead of US CPI Release
Bitcoin rose about 2% in Asian trading to around $87,274 as regional shares edged higher and traders awaited US CPI data that could influence potential Federal Reserve rate cuts in 2026. US macroeconomic data showed November nonfarm payrolls increased by 64,000 with unemployment at 4.6%, while October payrolls were revised down and retail sales remained flat, sparking debate on whether economic growth is cooling sufficiently to prompt looser monetary policy.
Year-end tax-loss selling was cited as a pressure point for Bitcoin, with risk noted of a move below $80,000 if selling intensifies. Key near-term Bitcoin levels include support around $81,200 and a critical point near $83,800. Bullish momentum could propel Bitcoin toward $90,000, supported by rising near-term support near the $86,000 region. The total cryptocurrency market capitalization stood at about $3.05 trillion, up 1.3%, with notable daily moves including Bitcoin at $87,274, Ether at $2,948, and XRP at $1.93.
Asia-Pacific markets showed mixed gains led by technology stocks. Hong Kong's Hang Seng index rose 0.3%, Korea's KOSPI gained 0.6%, and China's CSI 300 increased 0.5% while the Shanghai Composite remained flat. Investors also watched the Bank of Japan ahead of its policy decision amid a weak yen and persistent inflation, supported by overseas demand for Japan's exports; the Nikkei was up 0.3% and the Topix up 0.1%.
US equities were mixed with the Nasdaq higher but the S&P 500 and Dow Jones Industrial Average edging lower as investors digested evolving Federal Reserve expectations amid looming CPI risk. Additionally, former President Trump was reported to be interviewing Fed Governor Christopher Waller for the chair role, adding further uncertainty to the rate outlook before the upcoming CPI data and policy decisions.
In the tech sector, Hong Kong robotaxi companies Pony AI and WeRide each rose more than 3%, reflecting strength in the tech and AI rally connected to broader market optimism and momentum related to Tesla.
