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Bitcoin (BTC) lost 0.04% on Thursday. On Wednesday, BTC lost 0.47% of its value and finished the day at $16,838. It is noteworthy that BTC missed $17,000 for the sixth time in six sessions.

BTC increased to a low of $16,873 in the morning after a mixed start to the day. BTC, however, failed to surpass the First Major Resistance Level (R1) at $16,936, dropping to a low of $16,588 in the late afternoon. Before a late recovery to conclude the day at $16,838 BTC dropped through the First Major Support Level (S1) at $16,752 and the Second Major Support Level (S2) at $16,659.

Test of Investor Resilience Using US Economic Indicators and the NASDAQ Index

The NASDAQ Index and BTC fell on Thursday as a result of negative US economic data and negative US company news. Better-than-anticipated US data fuelled concerns about a recession since they were consistent with a more aggressive Fed interest rate trajectory.

Initial unemployment claims increased to 216k in the week ending December 16. Economic experts predict a rise to 222k. Additionally, US GDP data for Q3 came in hotter than anticipated. The US economy grew by 3.2% in Q3, up from a preliminary 2.9%. The economy shrank by 0.6% in Q2.

By announcing layoffs in reaction to a decline in demand for computer chips, Micron Technology Inc (MU) contributed to the gloomy sentiment.

However, a BTC recovery helped the day finish flat thanks to a late NASDAQ recovery from session lows. The S&P 500 and the NASDAQ Index both had losses for the day of 1.45% and 2.18%, respectively.

Sam Bankman-Fried posting $250 million bail was the headline news, even if there were no crypto events to provide direction.

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