Today’s lower Bitcoin prices are driven by better-than-expected U.S. job data and a slight reduction in BTC supply held by its largest holders.
Bitcoin (BTC) price has dipped by approximately 3.25% in the last 24 hours to reach $3,690 on June 8. The BTC/USD pair is outperforming the broader crypto market, whose valuation has dropped 3.75% in the same period.
Among the top catalysts driving Bitcoin’s lower prices today are better-than-expected job data in the United States and a slight depletion in the BTC supply held by its richest whales.
Bitcoin’s price decline today came primarily on the heels of a strong U.S. employment report for May.