Bitcoin Price and Ethereum Prediction – Triangle Breakout Set to Drive 10% BTC Pump
On November 5, the Bitcoin price exhibited a sharp bullish trend, following the bullish breakout of descending triangle pattern. So far, BTC is up more than 5% to $21,375, and the technical outlook is signaling more upside potential.
Similarly, Ethereum is following in the footsteps of Bitcoin, rising more than 6% in the last 24 hours to trade at $1,645 as a lower unemployment rate may signal a slower rate hike.
The global cryptocurrency market cap remains above $1 trillion, sending major cryptocurrencies into positive territory early on November 5. However, the total crypto market volume has remained positive in the last 24 hours, reaching $102 billion.
The United States added 261,000 jobs in October, which was significantly better than predicted, given the continuing slowdown in the job-creation rate.
While this was happening, average hourly earnings were also trending upward, a sign of sustained inflationary pressures in the labor market.
Dogecoin (DOGE), Arweave (AR), and Mina (MINA) were the top performers this week. Dogecoin's price has increased by more than 55% to $0.1349, while Arweave's price is up by nearly 45% to $15. At the same time, MINA has gained around 6% to trade at $0.7733.
Aptos (APT) has dropped more than 8% to $7.65 in the last 24 hours. Casper (CSPR) is down over 3% to around $0.041, and EthereumPoW (ETHW) is down about 7% to $6.50.
Friday's employment report showed 261,000 more jobs, and the unemployment rate stayed at a record low of 3.7%. This shows that the job market is getting better. Jobs have been created every month of his presidency, the economy has grown by a record 10 million, and they have added 700,000 manufacturing jobs, which is 137,000 more manufacturing jobs than the US had before
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