Bitcoin Falls Below $67,000 as Markets Await US Jobs Data
Bitcoin slipped under the $67,000 level during Asian trading on Wednesday, as investors positioned ahead of key U.S. employment data that could influence the Federal Reserve’s interest rate outlook.
The world’s largest cryptocurrency was last trading 2.6% lower at $67,126.7. Although Bitcoin recently rebounded from last week’s decline near $60,000, it has struggled to maintain momentum above the $70,000 mark. The price action reflects continued volatility and fragile sentiment across the crypto market.
US Jobs Report and Inflation Data in Focus
The delayed U.S. nonfarm payrolls report, originally postponed due to a brief government shutdown, is scheduled for release later in the day. Economists expect modest job growth, forecasting around 70,000 new positions in January, with the unemployment rate holding steady at approximately 4.4%.
Traders are also closely watching the upcoming U.S. Consumer Price Index (CPI) report on Friday. The inflation data could further shape expectations around Federal Reserve policy and the timing of potential interest rate adjustments.
According to the CME FedWatch Tool, market participants anticipate that the Federal Reserve will keep rates unchanged until at least June, following three consecutive rate cuts in late 2025.
Fed Policy and Bitcoin’s Performance
Typically, expectations of lower interest rates support risk assets such as Bitcoin, as easing policy reduces the opportunity cost of holding non-yielding assets. However, this cycle has been different. Despite rate cuts, Bitcoin’s price has remained relatively subdued.
Analysts point to tighter liquidity conditions, weaker institutional inflows, and fading speculative activity as key factors limiting upside momentum in the digital asset space.
Robinhood Shares Slide on Weak Crypto Revenue
Shares of Robinhood Markets fell sharply in extended trading after the company reported quarterly earnings below expectations. The online brokerage posted fourth-quarter revenue of approximately $1.28 billion, missing analyst estimates of $1.40 billion.
Crypto trading revenue declined significantly, reflecting softer demand for digital assets. This weakness offset gains in equities and options trading. Following the earnings release, Robinhood shares dropped more than 8% in after-hours trading.
Altcoins Extend Losses; XRP Drops 4%
Most major altcoins also moved lower amid cautious market sentiment.
Ethereum declined 2.7% to $1,952.92.
XRP fell 4% to $1.36.
Solana and Polygon each dropped around 4.1%, while Cardano slipped 2.5%.
Among meme tokens, Dogecoin lost approximately 3%.
The broader crypto market remains under pressure as investors await clarity on U.S. economic data and the Federal Reserve’s next policy steps.
