Slightly weaker but mostly flat: Bitcoin is currently trading at $27,947 as it maintains an active range between $27,939 and $28,100.

Non Farm Payrolls data from United States will be released today at 12:30 UTC with analysts expecting a decline to 239,000. Potentially significant price fluctuations in Bitcoin are expected to follow.

United States Initial Jobless Claims released earlier showed a marked improvement to 228,000 from the preceding data of 246,000, but fell short of the 200,000 figure forecast by a consensus of market analysts.

Meanwhile, United States Reserve Balances with Federal Reserve Banks released yesterday at 20:30 UTC with a figure of 3.38 trillion, while the previous figure was 3.40 trillion. United States Fed's Balance Sheet released yesterday at 20:30 UTC with a figure of 8.63 trillion, while the previous figure was 8.71 trillion.

Technical analysis trend indicators suggest that despite being in the red so far in the current trading session, Bitcoin peaked above its 5 day Simple Moving Average around $28,067 — typically an early indicator of a new bullish trend beginning to emerge. Asset volatility analysis shows that Bitcoin's upper Bollinger Band® is at $28,737 which indicates a further downward move may follow. A study of Bitcoin's historical price actions shows Bitcoin could begin to recover as it approaches significant support, now $89.67 away from $27,857. Dipping below could be an indication that further losses are ahead.

With market volatility ebbing, the current technical outlook indicates Bitcoin will remain range-bound for the immediate future.

In the meantime, negative performances are also seen in other markets, after ending today's session at $0.085, Dogecoin lost $0.003 and is trading around $0.083.

Positive performances can be seen by looking at other markets as FTX Token gained 9.54% and is currently trading at $1.36. Ripple is up 1.94%.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Non Farm Payrolls projected to decline to 239,000 while previous data was 311,000; data will be released today at 12:30 UTC.

Furthermore, United States Unemployment Rate is expected today at 12:30 UTC.

Bitcoin now trading 65.97% above its 3-month low of $15,759.