Crypto
US Jobs Data Puts Pressure on Bitcoin as Rate-Cut Hopes Fade
Bitcoin dropped below $80,000 in value after a stronger-than-expected US jobs report. The resilient labour market pushed up expectations for tighter Federal Reserve policy.
The Treasury yields rose after the jobs report, adding further pressure on BTC. Markets are now focused on upcoming US inflation data, with a softer CPI reading potentially reviving hopes for easier monetary policy.
Meanwhile, US spot Bitcoin exchange-traded funds (ETFs) attracted a combined $1 billion over the last three trading days of the week.