Bitcoin Holds Near $67,000 as Fed Rate Cut Hopes Fade
Bitcoin traded largely flat around the $67,000 level during Asian hours on Thursday. Investors reacted to stronger-than-expected U.S. employment data, which reduced expectations for near-term Federal Reserve interest rate cuts.
The world’s largest cryptocurrency was last up 0.4% at $67,102.8. However, it remained capped below the key $70,000 resistance level. Trading activity was relatively muted, with thinner liquidity limiting major price swings.
Earlier this month, Bitcoin rebounded from a sharp drop toward $60,000. Despite the recovery, momentum has slowed, and the cryptocurrency continues to trade within a tight range.
Strong US Jobs Data Lowers Fed Easing Expectations
Fresh data released Wednesday showed U.S. nonfarm payrolls rose more than expected in January. The unemployment rate remained near multi-month lows, while wage growth stayed firm. These indicators point to continued resilience in the U.S. labor market.
As a result, traders scaled back expectations for a near-term Federal Reserve rate cut. Market pricing now suggests that any policy easing may be delayed until at least June. Prolonged higher interest rates tend to weigh on risk-sensitive assets such as cryptocurrencies.
Investors are also watching weekly jobless claims data due later Thursday for additional signals on labor market conditions. Meanwhile, Friday’s U.S. Consumer Price Index (CPI) report will likely provide clearer direction on inflation trends and the Fed’s policy outlook.
Bitcoin’s failure to break above $70,000 reflects cautious investor sentiment and lingering volatility following its recent decline.
BlockFills Suspends Withdrawals Amid Market Stress
Crypto liquidity provider BlockFills has reportedly paused client withdrawals following a sharp downturn in digital asset prices. According to multiple media reports, including the Financial Times, the suspension began last week as part of efforts to safeguard clients and stabilize platform liquidity.
Clients are still permitted to trade spot and derivatives positions under certain conditions.
BlockFills serves more than 2,000 institutional clients and processed over $60 billion in trading volume in 2025. The move echoes similar precautionary steps taken by crypto firms during previous market downturns.
Altcoins Trade Higher in Range-Bound Market
Most major altcoins posted modest gains on Thursday as the broader crypto market remained range-bound.
Ethereum rose 1.1% to $1,972.92, while XRP advanced 1.6% to $1.38. Solana traded largely unchanged. Cardano and Polygon each gained 2.5%, and Dogecoin climbed 2.2%.
Overall, the cryptocurrency market remains cautious as traders await key U.S. economic data that could shape the near-term direction for both digital assets and broader financial markets.
