Bitcoin price today has seen a strong recovery, climbing nearly 3% to around $65,106The recent bounce shows growing optimism before the February 26 jobless claims report, which is expected to come in around 216,000.
Why US Jobless Claims Could Trigger Bitcoin’s Next Rally
Jobless claims are a key indicator of economic strength. Rising jobless claims suggest weakening labor market conditions, which could increase the chance of Federal Reserve interest rate cuts.
Lower interest rates generally improve liquidity across financial markets, making risk assets like Bitcoin more attractive to investors.
As a result, weaker jobless data often supports Bitcoin’s price, while stronger labor data can reduce expectations of rate cuts and limit upside momentum.
Bitcoin Faces Critical Resistance Near $70K
Looking at the daily Bitcoin price chart, BTC has tested the support many times this month in the $62,000–$64,000 range, including on February 6, 13, and 19. Each time, buyers stepped in, showing strong interest at lower prices.
But it has always failed to break above the $67,875 resistance level so far.
If Bitcoin breaks above this level, it could move up to test the next resistance near $70,531. A clear breakout above $70,500 may lead to a stronger upward move toward higher price levels.
Meanwhile, the RSI is near 34, which shows Bitcoin is slowly recovering from oversold levels.
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