The post Bitcoin Price Reclaims $90k as US Jobless Claims Slip to 216k appeared com. The Bitcoin price upswing, backed by low trading volume, indicates a lack of strong conviction from buyers to continue upstream. According to FedWatchtool, the odds for 25% bsp in an interest rate cut have surged to 85. 1%. BTC’s fear and greed index at 15% accentuates extreme fear among market participants. The pioneer cryptocurrency, Bitcoin, rebounded over 3% to reclaim the $90, 000 mark. The buying pressure can be attributed to the surprise plunge in U. S. initial jobless claims to 216k, bolstering odds for a December rate cut. With the upswing, the coin price also regained key technical support, signaling a potential for renewed recovery ahead. BTC Rebounds on Dovish Fed Tone and Strong Labor Market Data Since last week, the Bitcoin price has rebounded from $80,537 to the current trading value of $90, 110, registering a 12. 3%. The rally had gained momentum after signals from Federal Reserve members suggested a more accommodative approach ahead of the December policy meeting. Their comments increased the likelihood of a quarter-point cut in benchmark rates, calming fears about extended tightening. Momentum gained even more with new labor market numbers released by the Labor Department. The new unemployment filings amounted to 216, 000- the lowest number of filings in more than seven months, since mid-April. Officials also increased the previous week’s count from an initial 220, 000 to 222, 000, highlighting a resilient job picture in the face of broader economic headwinds. Adding to the bullish backdrop, talk in Washington circles points to economist Kevin Hassett coming out on top to succeed Jerome Powell at the helm of the Fed. Hassett, who has expressed his support of cryptocurrencies in the past, previously advised Coinbase through its strategic board. His possible appointment could move the central bank toward policies more conducive to blockchain innovations and aggressive rate easing, with rates as.