Stronger US Jobs Data Cuts Fed March Cut Odds; Bitcoin Falls to ~$67.5K
A hotter-than-expected US jobs report (130,000 January payrolls vs. ~70,000 forecast; unemployment 4.3%) reduced market odds of a March Fed rate cut, triggering risk-off moves across crypto and traditional assets. Bitcoin dropped roughly 2% to about $67,500, with altcoins such as Ethereum and Solana falling around 3%. CME FedWatch odds for a March cut fell to roughly 8% from about 20% a day earlier. The labor-market surprise pushed Treasury yields and the dollar higher while safe havens like gold rose (~1.3%). Traders pared risk positions and short-term bullish momentum for BTC weakened; however, on-chain activity and macro liquidity remain key watch points after recent volatility (BTC hit a 14-month low near $62,800 last week before rebounding). For traders: expect higher intraday volatility, lower immediate rate-cut-driven upside for BTC, and greater sensitivity of crypto prices to upcoming macro data and Fed communications.
Bearish
The stronger US jobs print reduces near-term odds of Fed rate cuts, removing a key macro catalyst (cheaper money) that had supported risk assets, including Bitcoin. The immediate market reaction — BTC down ~2%, larger declines in altcoins, higher Treasury yields and a stronger dollar — signals reduced risk appetite and higher short-term volatility. Traders shortened positions and scaled back bets on a March cut (CME odds fell to ~8%), lowering demand for speculative assets. Short-term impact: bearish — expect continued downside pressure or muted rallies until the Fed narrative shifts or liquidity improves. Medium-to-long term: neutral-to-cautiously bullish conditional on future easing of inflation or a pivot in Fed guidance; on-chain indicators and macro liquidity flows will determine whether the market recovers decisively. Overall, the news weakens immediate bullish catalysts for BTC and increases sensitivity to subsequent economic data and Fed commentary.