[Bitcoin Fails to Break Through $93,500, Bearish Narrative Remains Strong]
Bitcoin's price fell below the 2025 annual opening price during Thursday's Wall Street trading session, approaching $90,000. Strong U.S. employment data showed initial jobless claims and continuing unemployment claims were both lower than expected, indicating a strengthening labor market. Although the market expects an 89% probability of a Federal Reserve rate cut on December 10, trading firm Mosaic Asset Company warned that future rate cuts are not guaranteed. Material Indicators pointed out that Bitcoin needs to break through the $93,500 annual opening price and the $100,000 liquidity zone, among other key resistance levels. The current failure to break through suggests the bearish narrative remains strong. The S&P 500 index is nearing an all-time high, while Bitcoin and altcoins are showing weak performance.