On March 6, 2026, the price of Bitcoin (BTC) loses the $70,000 mark that seemed to have been established as strong support.
At the time of this publication, as confirmed by the CriptoNoticias price calculator, Each Bitcoin trades for $68,448 on major exchanges.
The following chart provided by CoinGecko shows Bitcoin’s performance over the past 7 days.
The reason for this price reduction is The macroeconomic situation is currently under attack on two fronts: the Middle East and US employment statistics.
Regarding the Middle East, Reuters quoted Susannah Streeter, chief investment strategist at Wealth Club, as saying: “A warning from Qatar’s energy minister that a prolonged conflict could collapse economies around the world has once again spooked financial markets.”
Bitcoin is not the only thing affected for this reason. The S&P 500, a representative index of the US economy, fell 1.65% on the day. The Nasdaq 100, which represents tech stocks, fell 1.50% during the same period.
In addition to this, the US employment statistics were released today. Worse than market expectations.
“The U.S. economy unexpectedly lost jobs in February, and the unemployment rate rose to 4.4%. This could be a sign that labor market conditions are deteriorating, and rising oil prices could put the Federal Reserve in a difficult situation,” analysts at the news agency said.
Experts from the financial newsletter Kobeissi Letter elaborate: The US economy lost 92,000 jobs in February.This is well below the expected increase of 58,000 people.
“This is the second monthly job loss since the 2020 pandemic,” they noted, adding that “the U.S. labor market is clearly weakening.”
As investor Ray Dalio recently pointed out (in a statement commented on by CriptoNoticias), Bitcoin typically exhibits strong correlations with traditional stock market assets, especially at key moments. Because of this, digital currencies are moving at the same time as the stock market. And we are currently in an era of high volatility.
(Tag Translation)Bitcoin (BTC)
