Bitcoin Slips Below $66,000 After Strong US Jobless Claims & Trade Deficit Surprise

TL;DR:

Bitcoin fell below $66,000 on Thursday following mixed US economic data. Initial jobless claims beat expectations, while the trade deficit widened sharply, fueling renewed risk-off sentiment in crypto markets.

Key Points:

Background:

Decentralized Finance (DeFi) refers to financial services built on blockchain networks that operate without traditional intermediaries like banks. DeFi protocols enable lending, borrowing, trading, and earning yield on cryptocurrency assets through smart contracts.

Why It Matters:

DeFi represents a fundamental reimagining of the financial system, offering permissionless access to financial services globally. DeFi developments impact how value is exchanged, stored, and utilized in the crypto ecosystem, driving innovation in financial products and services.