Weakening US employment indicators are reshaping expectations for economic growth, interest rate trajectories and market liquidity. These shifts are introducing fresh macro headwinds for Bitcoin and the broader digital asset sector. Traders are recalibrating risk exposure amid mixed labor signals as the unemployment rate climbs to multi-year highs and monthly payroll additions moderate from post-pandemic peaks.

Bitcoin has rallied over 12% from last week's $80,000 low but now confronts critical overhead resistance. Data show two major supply clusters at $93,000–$96,000 and $100,000–$108,000, where early-cycle buyers may sell at breakeven. A decisive break above these zones is necessary for sustained upward momentum.

On-chain data show Bitcoin whales holding at least 1,000 BTC are exhibiting divergent behavior. New Whales—those who acquired coins within the past 155 days—have been selling at a loss during the recent price decline, while Old Whales with longer holding periods have stayed largely on the sidelines.

U.S.-listed cryptocurrency equities advanced Friday as prediction-market odds for a December Federal Reserve rate reduction surged to 87%, the month's highest level. Bitcoin miners including Cleanspark, Riot Platforms and Cipher Mining posted gains, extending a five-day rally. Circle, the USDC stablecoin issuer, jumped nearly 10% in early trading.

Bitcoin reached $93,092 on Friday morning, its highest level in one week, before pulling back as it attempts to reclaim a critical resistance zone. Analyst Rekt Capital notes that BTC must close November above $93,500 to potentially finish 2025 in positive territory, according to historical Four-Year Cycle patterns. The cryptocurrency has traded below $100,000 for nearly two weeks following November corrections, after dropping to a seven-month low of $80,600 earlier.

Bitcoin price movements now depend on ETF flows, perpetual swap funding, stablecoin liquidity, holder behavior, and macro conditions rather than traditional on-chain signals alone. Since US spot Bitcoin ETFs launched in January 2024, institutional capital flows and derivatives positioning have become primary drivers of BTC volatility.

The Coinbase Premium Index has turned positive for the first time in several weeks, coinciding with Bitcoin's recovery above $90,000. Data from CoinGlass show the shift marks a reversal from persistent negative values observed throughout late October and much of November. The change suggests renewed buying activity from U.S. market participants after an extended period of net selling pressure.

Bitcoin has climbed back above $90,000 following recent volatility, though upward momentum remains limited. Data show BTC sent to exchanges at a loss by short-term holders has declined to approximately 11,600 BTC, down 80% from the 67,000 BTC peak recorded on November 22, according to Darkfost. Despite easing panic-driven selling, the asset trades below key moving averages and faces overhead resistance.