Bitcoin Taps $100,000 But Fails To Hold Amid Mixed US Jobs Report
The US Bureau of Labor Statistics reported that the US added 143,000 jobs in January 2025, below the expected 170,000, causing Bitcoin (BTC) to briefly rise to $100,110 before falling back to $97,957. The unemployment rate decreased from 4.1% to 4%, indicating labor market resilience despite high interest rates. The CME FedWatch Tool now shows an 8.5% chance of the Federal Reserve cutting rates at its March meeting, down from 15%. This suggests sustained higher interest rates, which may hinder Bitcoin's potential for growth. Bitcoin is trading in a range of $92,000 to $106,000, demonstrating resilience against macroeconomic challenges, including stock market downturns and trade tensions with China. Concerns remain about declining Bitcoin network activity and potential overvaluation, with BTC currently at $98,015, up 1% in the last 24 hours.
