Bitcoin and Ethereum Experience Bearish Sentiment Ahead of Non-Farm Payrolls Report

Bullion Bite

Bitcoin and Ethereum experience a dip as the markets consolidate on Thursday, with Bitcoin once again trading below $28,000. As the market prepares for Friday's non-farm payrolls report, Bitcoin dropped to an intraday low of $27,831.56. The move came after Bitcoin bulls failed to sustain a breakout of a key resistance level of $28,500.

Similarly, Ethereum experienced a decline, slipping from an eight-month high the day before, following a high of $1,924.47 on Wednesday. As a result of this decline, Ethereum has fallen from its strongest point since August 17 when the price hit a peak of $1,957. Today's dip can be attributed to the RSI hovering below a recent support point at 61.00.

Overall, it appears that earlier bulls have moved to take profits, ahead of the upcoming uncertainty in the market. At the time of writing, Ethereum is trading at $1,871.63. Traders are anticipating the next movement in the market, as both Bitcoin and Ethereum's prices have experienced a decline.

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