Bitcoin continues testing the $93,500–$95,000 resistance zone as the U.S. trade deficit narrows sharply on falling imports rather than broad-based strength in domestic demand while the labor market enters a hiring pause marked by slowing job creation and low unemployment.
What Happened: Trade Deficit Shrinks
Recent U.S. macro data point to an economy slowing in activity but not yet slipping into outright weakness, according to this analysis.
The trade deficit has narrowed driven largely by declining imports, and while the improved balance may support headline growth in the short run, the underlying drivers suggest softer consumption ahead.
The labor market shows a clear hiring pause.
Job creation has slowed markedly while unemployment remains low, reflecting a "slow hire, no fire" environment in which firms retain workers but avoid adding headcount.
Rising productivity is allowing businesses to sustain output and margins with fewer hours worked, reinforcing expectations that the Federal Reserve will keep rates unchanged in the near term while remaining cautious about easing later in the year.
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Why It Matters: Economic Crosscurrents
The improved trade figures mask potential pressure on transport and logistics employment alongside risks to small businesses, suggesting economic momentum is becoming more uneven beneath the surface.
For Bitcoin, this mixed macro backdrop creates uncertainty around risk appetite.
Meanwhile, Bitcoin is advancing into a dense supply zone defined by recent top buyers, whose cost basis spans roughly $92,100 to $117,400.
As price revisits this area, breakeven selling pressure is likely to increase as holders who endured the drawdown look to exit without losses, creating meaningful overhead resistance that suggests further upside will require sustained spot demand to absorb distribution.
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