Bitcoin continued its decline on Wednesday, dropping by 2% to around $67,500, as strong U.S. jobs data raised doubts about the Federal Reserve cutting interest rates in March. The Department of Labor reported that 130,000 jobs were added in January, significantly surpassing economists’ predictions, which contributed to a decrease in expectations for a rate cut; traders now estimate just an 8% chance of a reduction. This news comes amid a backdrop where lower interest rates typically benefit risk assets like cryptocurrencies, but investor interest in Bitcoin appears to be waning in light of recent market conditions.
Bitcoin slides as strong US jobs report diminishes Fed rate cut hopes
