Bitcoin Holds at $76,000 After AI-Fueled Selloff, Market Awaits US Jobs Data
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- Harga Bitcoin stabil di kisaran $76.150 setelah sempat turun ke $75.200, sementara Ether naik tipis 0.3% dan indeks memecoin melonjak 4%.
- Aksi jual dipicu kekhawatiran bahwa kendali Demokrat atas Kongres dapat memperlambat pembangunan pusat data AI, memicu likuidasi posisi leveraged senilai lebih dari $1 miliar.
- Investor kini mencermati laporan tenaga kerja AS yang diperkirakan menambah 65.000 lapangan kerja, yang bisa menentukan arah pasar kripto selanjutnya.
Bitcoin showed resilience again at the $76,000 level on Friday morning, a day after a selloff driven by concerns over the global technology sector. The price of the largest cryptocurrency edged up 0.2% to around $76,150 since midnight UTC, after sliding to $75,200 on Thursday night. Ether also gained 0.3%, while the memecoin index led with a 4% rise, signaling that risk appetite has not fully disappeared.
Thursday's sharp decline began on the US stock market: the Nasdaq Composite plunged 5.5% on investor concerns that a Democratic Party win in Congress would slow the construction of data centers for artificial intelligence. The effect spilled over into the crypto market, where more than $1 billion in leveraged positions were liquidated within 24 hours, according to CoinGlass data. Over the same period, bitcoin fell 5.3% and ether 7.3%.
Pressure was also visible in outflows from crypto exchange-traded funds (ETF). The Fidelity Wise Origin Bitcoin Fund (FBTC) lost about $200 million on Thursday, while BlackRock's iShares Bitcoin Trust (IBIT) recorded an outflow of $105 million—extending a streak of withdrawals over five consecutive sessions, as reported by Farside Investors. The figures underscore that institutional investors remain cautious amid policy uncertainty.
Market attention now shifts to the release of US jobs data scheduled for 08.30 Eastern Time (13.30 UTC). Economists surveyed by FactSet expect 65,000 jobs added in October. The figure will be an important signal for the Federal Reserve in determining the direction of interest rates, which have been the dominant factor for moves in risk assets including crypto.
On another front, the narrative around stablecoins backed by real-world assets (RWA) continues to develop. Diversified stablecoins backed by real credit offer yields of 5-7%, while conventional crypto funding has compressed to around 4%. The GENIUS regulation, which pushes yields off-chain, is expected to expand the total addressable market (TAM) to $4 billion over the next three years. The trend shows that innovation in digital financial products continues even as the spot market is turbulent.
For Indonesian investors, this dynamic is worth watching. Although the domestic crypto market is still relatively small, its correlation with global sentiment is growing stronger as retail participation increases. A bitcoin decline is usually followed by an altcoin correction, which can affect local investors' portfolios. In addition, ETF outflows are an important indicator of foreign institutional interest that can affect global market liquidity.
Going forward, whether bitcoin can hold the $76,000 level will depend heavily on jobs data and monetary policy expectations. If the data shows a stronger-than-expected labor market, selling pressure could return. Conversely, softer figures could give risk assets room to rebound. The crypto market looks set to keep dancing to the rhythm of the US macroeconomy.
