Oh, the joy of good news from the Department of Labor and Wall Street – everything’s up, except for bitcoin, of course.
Stocks Soar, Bitcoin Shrugs
The U.S. jobless claims fell to a 3-month low on Thursday, and a whopping 44 companies outperformed their quarterly estimates this week. Stocks saw a lovely uptick, but bitcoin (BTC) didn’t seem impressed. It just sat there, flat as ever, as altcoins waltzed in with gains and bitcoin’s market dominance slipped below 63%.
The Department of Labor reported that there were 221,000 initial jobless claims for the week ending July 12. That’s a 7,000 drop from the previous week – the lowest in three months. But who’s counting? Certainly not bitcoin.
Wall Street was in a good mood too. At least 44 companies crushed analysts’ earnings expectations. The S&P 500, Nasdaq, and Dow all climbed 0.45%, 0.74%, and 0.40%, respectively. Meanwhile, the crypto market rose by 1.56%, but not thanks to BTC. Altcoins led the way, not exactly what you’d call a party for bitcoin.
//news.bitcoin.com/bitcoin-retreats-as-inflation-climbs/https://news.bitcoin.com/bitcoin-retreats-as-inflation-climbs/”>current 2.7%
to the 2% target.
“‘Too Late:’ Great numbers just out. LOWER THE RATE!!! DJT,” Trump posted.
The Market at a Glance
Bitcoin was priced at $118,744.37 at the time of writing, barely budging, down by 0.02% from yesterday. Still, it’s up 6.46% for the week, according to Coinmarketcap. Over the last 24 hours, it dipped to as low as $117,508.22 and peaked at $120,065.25. Classic bitcoin mood swings, right?
The trading volume has taken a little dip of 7.22% today, coming in at $68.05 billion. Bitcoin’s market cap dropped by a tiny 0.1% to $2.35 trillion. Even more telling: bitcoin’s dominance sank by 0.56% to 62.65%, as altcoins like ether (ETH) and ripple (XRP) started their little party.
Coinglass data shows that bitcoin futures open interest dipped 0.24% to $87.04 billion. Bitcoin liquidations for the last 24 hours stood at $66.73 million, with short positions losing $37.06 million and longs losing $29.67 million. Ah, a balanced dance of bears and bulls.
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2025-07-17 20:29