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Today’s Cryptocurrency Headline

Fintech firm Revolut plans to expand the headcount of its cryptocurrency business across Europe, the UK and the US by 20% over the next six months. Revolut has already hired 43 crypto business employees in 2022 and is currently hiring for 13 related positions, including compliance and financial crime prevention, as well as software engineers and professionals with crypto experience in the legal field.

BingX’s Bitcoin Chart

Source: TradingView & BingX

According to the US Department of Labor, non-farm payrolls increased by 528,000 in July, suggesting that inflation has not come down. The market is expecting a higher likelihood of a 0.75 percentage point hike for the next Federal Reserve meeting in September. Bitcoin is up 1% over the last 24 hours and rose to an intraday low of $23,406.00. The largest cryptocurrency kept trading around the 20-day exponential moving average (EMA) ($22,781) during the weekend, suggesting a lack of demand at higher levels. The bulls will attempt to push the price above the overhead resistance at $24,668. If they succeed, the BTC/USDT pair could pick up momentum and rally to $28,000.

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