Crypto Market Consolidates Amid Inflation Concerns Ahead of Nonfarm Payrolls

The crypto market has been range-bound between $64K and $65K for Bitcoin (BTC), despite increased volume.

The U.S. initial jobless claims reinforced concerns that the Federal Reserve may maintain a higher-for-longer rate policy, while renewed Middle East tensions pushed oil prices higher and revived inflation concerns.

U.S. equities closed lower across the board, with mixed performance among technology stocks, while Microsoft gained over 2% to reach its highest level since November last year.