Bitcoin BTC, Ethereum ETH, and Ripple XRP lost small value points on Friday as investors learned about US NFP reports and Donald Trump’s recent crypto gathering. 

The price of Bitcoin decreased 2% during that day, while Ethereum and Ripple lost 4.2% and 1.32%, respectively. Studies point out that the market pullback might pass before the NFP results validate a softer US employment situation that shrinks the US dollar index.

BTC dropped by 2%, while ETH and XRP decreased by 4.2% and 1.32%, respectively. Meanwhile, the US dollar index (DXY) hit its lowest level since November 5 at $103.6. It has lost 6% this year as investors expect the Federal Reserve to decrease rates.

Bitcoin Faces Impact As Weak NFP Data Looms

Economists’ current prediction suggests that February’s NFP figure will show decreased job generation due to trade protectionism and federal employment cuts across the country. The most recent ADP employment numbers showed private companies added 77,000 workers, which fell far short of the expected 154,000.

Weak job numbers would increase the chances that the Federal Reserve will take easier monetary policy actions. A Bitcoin price rise depends on the weakening of the US dollar. Jamie Coutts, the chief crypto analyst at RealVision, explains his views in his X post.

When looking at this recent move in the DXY through a historical lens, its challenging to be anything but bullish. I ran a signal screen for 3-day negative moves of more than -2% & -2.5% and found they have all occurred at Bitcoin bear market troughs (inflection points) or… pic.twitter.com/Lc6izl5U2A

— Jamie Coutts CMT (@Jamie1Coutts) March 6, 2025

A historical comparison shows investors should take a positive position on US currency affairs. Many negative Bitcoin moves exceeding 2% and 2.5% during 3-day periods took place at market inflection points, marking the end of bear phases or during regular bull markets.

Bitcoin Awaits Crypto Summit Outcome Amid Market Uncertainty

The crypto market continues to monitor Trump’s crypto summit. Market sentiment expects Bitcoin to gain from the event, yet short-term investors might face setbacks since they have anticipated most of its positive effects already.

Market experts have analyzed upcoming US labor market data and Trump’s crypto summit to define important buying and selling points for Bitcoin, Ethereum, and XRP.

Bitcoin defends both technical $85,000 support and its 200-day Exponential Moving Average position at this time. Although servers rejected this price at $93,000 to $95,000 current resistance remains active.

When BTC breaks through its resistance, it has a strong chance of rising toward a significant $100,000 price level. The positive outlook for BTC will weaken if the price drops below both its 200-day EMA at $85,850 and its month low at $78,100.

With its present price at $2,190, Ethereum trades above the $2,123 support, which previously formed resistance during February, September, and August of 2021. The market behavior shows traders are uncertain about their buying and selling decisions.

The btc trend will turn bearish when the price closes below $1996 because it completes the triple-top formation. The market will support increasing prices when BTC breaks through its $2,553 resistance from May 2.

Ripple’s XRP TESTING remains undecided in the market before the release of the National Employment Report. The daily chart shows a head-and-shoulders pattern that suggests a future price decrease.

The market expectations of continued bearish movement for XRP are valid, provided it stays beneath $2.90 in its right and left shoulders range. The cryptocurrency market is at an important moment because investors want to know what the US NFP stats and Trump’s crypto event will mean.

Weak unemployment data would boost the price of BTC, ETH, and XRP while pushing down the value of the US Dollar. Watch the critical support and resistance areas intensely before making predictions about future price actions.