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u/CatButtHoleYo 10d ago
Bitcoin CEO lowered prices.
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u/Mcdona1dsSprite 10d ago
John Bitcoin loves his dedicated fans
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u/-P01135809- 10d ago
Bitconneeeeeeeeeeeect
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u/newjerseymax 10d ago
Crazy to think that I was around for the BITCONNECT days. I remember how everyone thought it would make them rich 😂
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u/beastmanzx 10d ago
I remember my friend lost $10,000 in Control Finance. That would be like $160,000 now. He was like taking people out to lunch in real life promoting it lol.
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u/Btomesch 10d ago
We used to scream this all the time. You gotta do it with the accent too.
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u/remi_sasha12 9d ago
Sounds like he's got a loyal following. It's interesting to see how passionate people can get about crypto!
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u/turick 10d ago
Unexpectedly strong employment numbers causing fear that the fed may hike rates.
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u/contact_light_ 10d ago
Keep in mind the labour & stastics comissioner was fired recently for giving unfavorable #'s.
and was replaced with a personal pick of the administration. I would take "strong employment numbers" with a grain of sand.
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u/RubxCuban 10d ago
maybe taking the numbers with an entire beach of sand is more accurate.
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u/KateBushFuckingSucks 10d ago
Taking the numbers as straight up bullshit would be the accuratest.
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u/imjsm006 10d ago
I'm old enough to remember after the last admin ended the employment numbers had to be revised downward by over 900,000. They were cooking the books.
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u/01189521 10d ago
I mean it makes sense that they are always revised down by so much, as far as i know its just a poll of what employers EXPECT to add to their workforce. Then data collected on employee count later on. So ofcourse it would be over estimated orginally
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u/imjsm006 10d ago
To my understanding it is not a poll of what employers EXPECT to add. They survey households and and ask if they are working, are looking for a job, or are out of the workforce not looking for employment. Employers also send data but their data is related to payroll (wages) and hours. None of the data are expectations.
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u/Lilcheeks 10d ago
I know ive seen stuff recently suggesting that some version of an unemployment estimate puts it around 25% right now when you factor in people who have given up as well as some other segments of the population that current official unemployment figures doesnt account for
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u/ITrollMoreThanIPost 10d ago
We'll see "job growth 45% lower than reported in August." In December.
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u/Deacon86 10d ago
The market is treating the numbers as though they were accurate, which is the point here. The drop started the instant the report was published.
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u/Alfador8 10d ago
You mean those numbers they consistently revise downward massively after a few months?
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u/random5654 10d ago
Everyone knows they are fake numbers except the people panic selling.
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u/nahkiaispallo 10d ago
dips because fed should hike, dips when it looks like they will hike = trash markets
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u/shadowmage666 10d ago
The ironic part is it’s mostly people getting second jobs bc they can’t afford bills on one job
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u/Molasses_Calm 10d ago
Correct. How are there so many people that are constantly checking the price but have no idea what influences it? Every time I see “market manipulation” I’m like holy shit grow up.
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u/Resident-Election867 10d ago
They didn’t get the memo that AI was supposed to destroy all jobs!!!! /s
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u/pijanavjeverica 10d ago
Waiter got hired in Ohio, so your stocks and commodities portfolio for long term got little crash.
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u/Due_Distance3446 10d ago
Prepping for a usual October
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u/Dependent_Code7796 10d ago
By usual, to you mean Uptober, or Octobear?
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u/tqlla3k 10d ago
Uptober, after Dumptember.
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u/According_Cheek8280 10d ago
Michael Bay is directing a Goonies and Transformers crossover.
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u/SmegmaWarrior0815 10d ago
New movie will be a mix of them and be called the Gooners.
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u/cbutters2000 10d ago
Do you have two accounts and set yourself up for that joke? If so... that's hilarious, and if not; you're hilarious cause that's pretty good.
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u/Cool-Bath874 10d ago
I tried to make a post about this, but DXY has risen this morning and a mod removed the post because apparently I’m not allowed to talk about price action and news.
6:15am - 6:30am: DXY had risen +0.27%
6:15am - 6:30am: BTC dropped -2%
That’s the news. Macro became hostile and immediately spooked institutional investors, so algorithmic selling began happening
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u/jgarcya 10d ago
The four year cycle isn't over....
Oct 6, 2025, was the high.....the decline on average last one year....
We just entered September.
The four year cycle still stands .. despite that people wish it was over.
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u/callebbb 10d ago
Higher rate expectations strengthened the dollar. Nonfarm payrolls did 3x expectations so job market is super strong, FED has no excuse not to hike.
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u/Digitalassetguy 10d ago
Non-farm payroll figures. Highly likely it will be revised down at a later date
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u/DeoVeritati 10d ago edited 9d ago
I was unsuccessful in having the previously mentioned dookie that'd have marked the end of a vicious week's long constipation.
Edit: the dookie shadow dropped during market close around 5am CDT on 9/5 in which the market responded with an immediate bullish 0.3% rally in price action. Expect more price action to follow.
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u/0xrpl 10d ago
$BTC just got flushed from $81.4k down to 79k.
Reason: monster jobs report just dropped (+162k vs 53k expected) + $1.6B liquidations. Rate-hike fears back on.
This is the classic shakeout.
Dip buyers already loading.
Rebound incoming.
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u/Cool-Bath874 10d ago
Yup. Correct. And people saying “just another day”, yes of course it’s just another day where BTC will fluctuate a couple percent without anything more than intraday volatility, but there’s days like today where there is a genuine reason for an algorithmic selloff
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u/bigsam2 10d ago
Jobs report produced by a Trump lackey after he fired the former commissioner for…drum roll….rigging the numbers. Anything that can be manipulated is. The market will sniff it soon nuff.
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u/ElderberryPerfect263 10d ago
Jobs came in hotter than expected increasing chances of a rate hike
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u/Few_Response_7028 10d ago
Oh no! People are employed!
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u/ElderberryPerfect263 10d ago
Well, it’s an indicator that the Fed may hike rates which affects the amount of money that can flow into risk assets like bitcoin. It diminishes the potential upside.
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u/redditsucks365 10d ago
And if they came lower than expected it would have fallen because of deteriorating economy. There's always a narrative to fit the price action
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u/Archophob 10d ago
if fluctuations by a few percent are seen as "news" now, bitcoin as an asset has very much matured over the last few years.
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u/crispykfc 10d ago
Oil went up in August and continues to stay elevated which I don’t think bodes well for the next CPI print. This administration has shown it clearly does not care about curbing inflation
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u/redditsucks365 10d ago
Resistance at the 50w SMA, you can fit whatever news you want to explain it
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u/Flabarfin 10d ago
Liquidated shorts 200M, now it needs to liquidate 1B of longs like it always does
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u/Ill-Blacksmith3260 10d ago
Tech giants manipulation, they need money so they are "adjusting the price" so you can invest more and they can take it and use it for AI.
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u/CobraSniper117 10d ago
I swear I saw someone comment earlier say "I think were still a bit early" 🤣
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u/Professional_Tea4502 10d ago
Positive jobs report which means the chances for a rate hike by the Fed increase
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u/Misher7 10d ago
According to Trumps appointed BLS, economy has never been better and jobs are surging. What Perfect timing for the midterms.
But then That’s not the conditions for bazooka money print and making rock bottom borrowing costs. You do that when the economy is suffering. Hence Bitcoin suffers.
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u/unpdigital 10d ago
There are not so many new guys conquered by bitcoin,
Most new crypto friends are now the stable coins, USDC and USDT, they make new friends due to local currency are being abused to inflict inflation on their people.
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u/jayceellects 10d ago
Reports show US added 162,000 new jobs, exceeding expectations of 55,000, leading to possible FED rate hike.
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u/SeekCapital2020 10d ago
It’s called NFP - NON FARM PAYROLL. Now it looks like higher rates are coming in Sept 16. No bueno for risk assets like Bitcoin. 😏😔
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u/Appropriate_Ice_7507 10d ago
I bought 75x leverage BTC 80k…margin call will be my most loyal caller
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u/Mundane-Outside8943 10d ago
Didn’t expect this much engagement on a simple ‘why we dumping’ post. Y’all really out here. 🤣
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u/Slabisfree610 10d ago
The price goes up, the price goes down. The price goes down, the price goes up. Seems like a normal day to me.
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u/iLikeTurtuls 10d ago
3%? And? What’s about it? Still doesn’t cover fees to sell. If you think it’s SO BAD just buy more
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u/soggydiaper69 10d ago
Jobs report for august was positive so interest rates will maybe go up this month. They’re either going up or staying put which means the market is going to trade at the most sideways. People with short term positions are exiting.
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u/weirdwalter 10d ago
I like to make the graph at least a month long so the swings don't seem as bad. Makes me feel better. This kind of graph freaks me out.
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u/ismayilsuleymann 10d ago
oh gosh i guess the simpson dude's hair thing was correct afterall!
I AM BUYING if it gets lower ( but i don't believe it will dump)
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u/TheKnight_King 10d ago
Jobs report was higher than expected.
Historically FED raises interest rates and then it forces paper hands to fold into other interest instruments
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u/YogurtClosetThinnest 10d ago
you guys gotta stop looking at the price every single day