#BTCMarketAnalysis

- Bitcoin price declined amid focus on the non-farm payroll report.
Bitcoin price dropped to 86.5K, down 3% over 24 hours.
The delayed U.S. non-farm payroll report is expected to show an addition of 50,000 jobs in November.
Additionally, U.S. retail sales data, Consumer Price Index data, and the Bank of Japan's interest rate decision are scheduled to be released this week.
Speculators buy stocks when prices fall, while institutions and whales sell.
Technical analysis of Bitcoin.

Bitcoin price fell on Tuesday, declining 3% over the past 24 hours to $87,000 amid cautious trading ahead of key American data that could influence the Federal Reserve's interest rate path.

Focus is turning to the U.S. non-farm payroll report, scheduled for release at 13:30 UTC. The delayed November employment data and part of October's data are expected to add 50,000 jobs, following the addition of 119,000 jobs in September. The unemployment rate is expected to remain at 4.4%, consistent with the ongoing slowdown in the labor market.

This data comes after the Federal Reserve cut interest rates by 25 basis points last week, as concerns about a slowdown in the labor market overshadowed worries about stubborn inflation. However, according to the CEM FedWatch tool, the market prices a 75% chance that the Fed will keep interest rates unchanged at the January meeting. Weak employment data could boost expectations of a rate cut, supporting Bitcoin. It is worth noting that there is still one more jobs report before the Fed's next meeting on January 28.

Attention will also be on U.S. retail sales and CPI data on Wednesday and Thursday, followed by the Bank of Japan's interest rate decision on Friday.

Sharks buy when prices decline, while whales and institutions sell.
According to Glassnode data, large Bitcoin investors holding between 100 and 1,000 BTC increased their holdings by 54,000 BTC over the past week. The total holdings of these investors rose from 3.521 million BTC to 3.575 million BTC, marking the highest accumulation rate since 2012, indicating strong confidence in Bitcoin's rise despite a 30% price drop. However, this may not be enough alone to push Bitcoin's price higher, given ongoing selling pressure from institutions and whales.

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Bitcoin ETF funds recorded net outflows of $357.7 million on Monday, the largest outflow since November 20. Outflows from Bitcoin ETFs for December reached $158.8 million, after $3.48 billion of outflows in November.

Major investors holding over 10,000 BTC have been behind intense selling over the past two months, as large investors and long-term holders sell at prices not seen in years. Any potential rise in Bitcoin's price may be limited until this selling pressure subsides.