The Bitcoin price has rebounded over the past few days after a brief dip, rising more than 1.3% on Thursday morning to surpass the $103,000 mark once again. The recovery comes in response to strong economic data from the United States, which boosted investor confidence. While U.S. and European markets remain closed, Asian markets have already reacted positively to the encouraging figures.

U.S. Economy Boosts Confidence

New data showed that the U.S. services sector reached its highest level in eight months in October. Businesses received more new orders, and employment grew faster than expected, with approximately 42,000 additional jobs created. These numbers provided relief to investors, who had faced disappointing figures in recent weeks.

The positive economic signals had already lifted stock markets and are now influencing the crypto market as well. However, caution remains, as the U.S. Federal Reserve does not appear to be planning a quick interest rate cut, keeping the dollar strong. A strong dollar often limits further upward momentum in cryptocurrency prices.

Bitcoin Holds Above the $100,000 Psychological Level

After the recent decline, Bitcoin staged a solid recovery and once again broke above $103,000. Traders point to the next resistance level between $105,000 and $107,000. As long as the Bitcoin price stays above $100,000, market confidence appears strong enough to support further gains.

Nonetheless, concerns remain. The ongoing political deadlock in the United States adds uncertainty, particularly as some economic figures are delayed due to the government shutdown. According to analyst Lukman Otunuga from FXTM, “The continued shutdown is not only a challenge for investors but also for the broader economy.”

For now, traders are focusing on the psychological $100,000 threshold. Staying above this level could allow the current rally to continue, while a drop below it may trigger a new correction, especially if the dollar remains strong.

Disclaimer: This is not financial advice. Always conduct your own research or consult a professional before investing.