Bitcoin and Ethereum Move Sideways as Investors Await Key Employment Data

Leading cryptocurrencies moved sideways Thursday as investors awaited key employment data releases to gather insight into the economy's health.

Major cryptocurrencies traded sideways Thursday as investors awaited key employment data releases to gauge the health of the economy.

What Happened: Bitcoin wobbled in the $60,000 zone for most of the day before an overnight surge saw it sail above $61,200.

Ethereum too meandered in the $2,300 region, failing to break above $2,400.

Sentiment has been damp since Iran's missile barrage against Israel on Tuesday, with both Bitcoin and Ether correcting significantly — by 4.5% and 9.11%, respectively, since then.

Liquidations continued to bog the market down, with over $192 million locked in the derivatives market getting wiped out in the last 24 hours. Upside bets accounted for 74% of the total.

Bitcoin's Open Interest rose 0.85% in the last 24 hours, going against the price drop. This possibly indicated new short positions getting opened.

The coin's Long/Short Ratio also surged to 1.09, indicating a higher number of traders placing bullish bets as compared to those gunning for price declines.

The Cryptocurrency Fear & Greed Index rose from 37 to 41, although the predominant sentiment remained one of "Fear."

Top Gainers (24-Hours)

The global cryptocurrency market cap stood at $2.12 trillion in the last 24 hours, following a narrow drop of 0.36%.

Stocks slipped during Thursday's trading. The Dow Jones Industrial Average lost 184.93 points, or 0.44%, to end at 42,011.59. The S&P

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