Bitcoin Dives Below $69K as US Loses 92K Jobs in February
Bitcoin dropped over 5% to $68,282 after falling below $70,000, following a U.S. jobs report showing a loss of 92,000 jobs in February and an increased unemployment rate of 4.4%. Representative Darren Soto blamed President Trump for the job losses, citing economic mismanagement and tariffs. President Trump has not addressed the jobs data but made remarks about Iran on social media. Crypto markets saw $370 million in derivatives liquidations, mostly from long positions, with nearly half tied to Bitcoin. Bitcoin ETFs lost $228 million, signaling ongoing institutional caution. Despite the recent price pullback from a high above $74,000 earlier in the week, analyst Iliya Kalchev emphasized the need for market stability above $70,000 rather than further rapid gains. Key macroeconomic indicators are due next week, including U.S. inflation data, jobless claims, and economic reports from Japan and Germany, which may influence market sentiment and conditions further.
