U.S. unexpectedly lost 92,000 jobs in February, unemployment rate rose to 4.4%
Bitcoin remained under pressure even as the data likely puts back in play the chances of Fed rate cuts in the first half of 2026.
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Jobs report
Bitcoin remained under pressure even as the data likely puts back in play the chances of Fed rate cuts in the first half of 2026.
Crypto markets have fallen sharply over the past few days as stronger than expected economic data sent interest rates surging and called into question the idea that the Fed will continue easing monetary policy.
Bitcoin may have bottomed at $60,000 earlier this week, and the Fed easing into a strong economy points to more upside, Will Clement said.
Bitcoin price (CoinDesk)
Before this morning’s jobs report, market participants put nearly 70% probability of lower rates in September, according to the CME FedWatch Tool.
The unemployment rate TKTK to 3.X% versus estimates for 3.6%.
The Bureau of Labor Statistics will release the nonfarm payrolls report for June at 12:30 UTC.