BiyaPay Analyst: US August Non-Farm Payrolls Data Disappointing, Bitcoin Weekly Chart Shows Weakness, Possible Support at $93,000

September 6th: On the evening of September 5th, the U.S. Bureau of Labor Statistics made an announcement. Only 22,000 non-farm jobs were added in August, which is much lower than the market's expectation of 75,000. The unemployment rate rose to 4.3%, reaching a new high since the end of 2021. This weak employment data has led to a decline in the U.S. dollar and a rise in gold prices, causing volatility in the short-term trend of Bitcoin. Looking at the latest Bitcoin candlestick chart, the weekly chart of BTC is showing a clear downward trend. It has been closing below key support levels for several consecutive weeks. The short-term moving averages are trending downward, and there is a clear bearish crossover in the MACD, indicating a weakening of the bullish momentum. From a technical perspective, if Bitcoin fails to hold above the $100,000 psychological level, the immediate support below may first test the range of $96,000 to $98,000. Further breakdown could extend to around $93,000. Intraday trading is highly volatile, and investors need to be cautious about the risk of short-term pullbacks. BiyaPay reminds users that in an environment where macroeconomic data overlaps with crypto market volatility, flexible asset allocation is especially important. BiyaPay's multi-asset trading wallet continues to provide you with one-stop services such as global remittances, cryptocurrency trading, and U.S.-Hong Kong stock investments, helping you seize opportunities in turbulent markets and achieve asset appreciation.