{"id":459497,"date":"2025-09-29T04:11:11","date_gmt":"2025-09-29T04:11:11","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/459497\/"},"modified":"2025-09-29T04:11:11","modified_gmt":"2025-09-29T04:11:11","slug":"china-pmi-us-government-shutdown-and-employment-in-focus-market-navigator","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/459497\/","title":{"rendered":"China PMI, US government shutdown and employment in focus| Market Navigator"},"content":{"rendered":"<p><strong>Bitcoin faces pressure amid $3.2bn liquidation wave<\/strong><\/p>\n<p><a href=\"https:\/\/www.ig.com\/en\/forex\/markets-forex\/bitcoin-1\" class=\"insight-link\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> continued its decline last week, driven by US dollar strength, diminished risk appetite, and significant liquidations of long positions.<\/p>\n<p>Bitcoin spot <a href=\"https:\/\/www.igcom.com\/content\/igcom\/en_EN\/market-training\/glossary-trading-terms\/etf-definition.html\" target=\"_blank\" rel=\"noopener\">exchange-traded funds<\/a> recorded $897 million in net outflows between 22 and 26 September according to Coinglass. The cryptocurrency data analysis platform revealed liquidations of long positions exceeding $3.2 billion during the same period, indicating substantial market deleveraging. <a href=\"https:\/\/www.igcom.com\/content\/igcom\/en_EN\/market-training\/glossary-trading-terms\/option-definition.html\" target=\"_blank\" rel=\"noopener\">Options<\/a> worth $22 billion expiring on 26 September contributed additional price volatility.<\/p>\n<p>The options market lacks clear directional consensus, with open interest on the most popular call option expiring 3 October targeting the $122,000 level, whilst bearish positioning anticipates the cryptocurrency declining below either $105,000 or $100,000 on Deribit.<\/p>\n<p>Following the breach below the 100-day MA, Bitcoin&#8217;s technical momentum further deteriorated, with the <a href=\"https:\/\/www.igcom.com\/content\/igcom\/en_EN\/market-training\/glossary-trading-terms\/moving-average-convergence-divergence-definition.html\" target=\"_blank\" rel=\"noopener\">moving average convergence divergence<\/a> (MACD) indicator crossing into negative territory. This movement confirms our previous analysis identifying Bitcoin&#8217;s entry into Wave C under Elliott Wave theory, with $107,232 serving as critical <a href=\"https:\/\/www.igcom.com\/content\/igcom\/en_EN\/market-training\/glossary-trading-terms\/support-level-definition.html\" target=\"_blank\" rel=\"noopener\">support<\/a>. A rebound above this support level could potentially return Bitcoin to the recent high of $117,877. Conversely, failure to maintain support opens the possibility of testing the 200-day MA at around $104,300.<\/p>\n<p>Figure 3: Bitcoin (daily) price chart<\/p>\n","protected":false},"excerpt":{"rendered":"Bitcoin faces pressure amid $3.2bn liquidation wave Bitcoin continued its decline last week, driven by US dollar strength,&hellip;\n","protected":false},"author":2,"featured_media":459498,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5311],"tags":[153979,153977,153981,90470,7372,49553,153978,153980,49,978,2612,659,21345,153976],"class_list":{"0":"post-459497","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-united-states","8":"tag-bitcoin-liquidation","9":"tag-china-pmi","10":"tag-economic-calendar","11":"tag-employment-data","12":"tag-federal-reserve","13":"tag-market-analysis","14":"tag-non-farm-payroll","15":"tag-rba-decision","16":"tag-united-states","17":"tag-us","18":"tag-us-tariffs","19":"tag-usa","20":"tag-usd-jpy","21":"tag-weekly-market-outlook"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115285636167179664","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/459497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=459497"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/459497\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/459498"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=459497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=459497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=459497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}