November ADP Employment Drops 32,000 as Bitcoin Tests $93,000 Support

U.S. ADP employment fell by 32,000 in November, missing market expectations, data released on Dec. 4 show. Small businesses with fewer than 50 employees cut 120,000 positions—the largest decline since March 2023—while annual wage growth slowed to 4.4%. Bitcoin spot ETFs recorded net outflows of $14.9 million and Ethereum ETFs saw net inflows of $140.2 million, with liquidation data showing $45.07 million in BTC long positions and $50.73 million in shorts cleared over 24 hours, alongside $103.37 million in Ethereum shorts. Bitunix analysts note Bitcoin's ability to hold above $93,000 remains critical near-term, with $90,500 as the next support if breached.