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The Unemployment Rate Rises to 4.4%

Benjamin Cowen · · 12:12 · Watch on YouTube

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BTC near publication: $84,7404-hour candle close · 23 Nov 2025, 00:00 UTC · BTC/USDT

On Bitcoin

Changed since their last video: cycle went from leaning down to expecting down.

Views

  • Next months (next 2–6 months): Leans down (timeframe is our reading): And then it kind of confirms the bear market and goes to the 200-week moving average. That seems like a viable path to me. ▶ 10:29 Said again while their call of 17 Nov 2025 was open, so it counts once; that call was right: 94.3k when said, 74.9k on 17 Mar 2026 (−20.6%).
  • This cycle (next 6–18 months): Expects down (timeframe is our reading): It always tops in Q4 of the post-halving year. And then it goes down for a year. ▶ 09:43 Said again while their call of 6 Oct 2025 was open, so it counts once; that call was right: 123.5k when said, 85.8k on 6 Oct 2026 (−30.5%).

Levels named

  • 100k: Resistance (In 2019 Bitcoin kept rallying back to the old 10k level after losing it): So, it's not impossible for Bitcoin to potentially rally back up to 100k at some point. ▶ 06:26
  • 65k: Target (200-week moving average expected near this price by mid-next year): 6,500 65,000 is probably where that 200-week moving average is going to be by mid-next year, if I had to guess. ▶ 06:38

Their own position: Not said.

Dates named

  • December FOMC meeting, undated: Like why are we going into December meeting with a 60% chance that they hold here at 4%?