major cryptocurrencies traded in the red on thursday evening following the release of the us adp private employment report what happened the us job market has been tight for a very long time and continues to show no indications of cooling down the adp report delivered a significant surprise to the market revealing an addition of 497000 privatesector jobs in june this figure surpassed the consensus forecast of 220000 by more than double in contrast the labor department’s report indicated slight labor market weakness as it showed an increase in firsttime filings for jobless claims to 248000 last week slightly exceeding the forecast of 245000 nela richardson adps chief economist said job creation surged in june led by consumerfacing services leisure and hospitality trade and transportation and education and health services showed strong gains but wage growth continues to ebb in these same industries and hiring likely is cresting after a latecycle surge at the time of writing the global crypto market capitalization stood at 117 trillion a decrease of 156 over the last day stocks experienced a decline on thursday as investors became more concerned about the state of the economy and the trajectory of interest rates due to betterthanexpected jobs datathe sp 500 closed at 441159 reflecting a 079 decrease while the nasdaq composite saw a drop of 082 see more best crypto day trading strategies analyst notes bitcoin appears to be facing some price barriers ahead of the 32000 level bitcoins performance is gaining attention given some of the weakness that is emerging with global equities for the bitcoin rally to continue we will need to get confirmation that the sec will grant permission for a spotbitcoin etf in the us wrote edward moya senior analyst at oanda in a note seen by benzinga according to crypto analyst michael van de poppe bitcoin had a notable surge followed by a reversal causing a reset in its price range currently in order to regain positive momentum and reach new highs bitcoin needs to reclaim the 305k level otherwise sub 295k is a trouble town and we’ll be looking at 28k investanswers has released bullish price targets for bitcoin btc and ethereum eth in a video the analyst shared his belief that bitcoin may reach 42000 by april 2024 notably this prediction is backed by the analysis of the options market investanswers said the higher demand for bitcoin’s call options compared to put options which they consider a strong bullish signal read next jim cramer advises against using binance provokes strong reactions from twitter users