Bitcoin: Dives Below $60K on Strong Jobs Data

Bitcoin dives below $60K following strong US jobs data as the Zcash crash shakes crypto confidence.

Traders note the historical correlation in Bitcoin price reaction to strong US jobs data where macro strength often pressures risk assets. Zcash crash causes and market impact compound the selloff through privacy coin contagion.

On the 4h chart BTC trades at $60828.28 inside the Bollinger band with upper resistance at $68705. Price sits well below EMA50 at $68381 and EMA200 at $74199 confirming bearish structure. RSI at 23.94 signals oversold conditions while MACD death cross at -2453.75 keeps downside pressure intact. A bounce toward lower band support at $60128 remains the near-term focus before any relief rally.