Investing.com– Bitcoin sank on Monday, falling for a third straight day as stronger-than-expected U.S. payroll data stoked caution among traders, reinforcing the Federal Reserve’s view of fewer interest rate cuts in 2025.
fell 3.7% to $91,266.0 by 09:04 ET (14:04 GMT).
Bitcoin prices fell sharply last week, having declined six out of the previous seven sessions as potential token sales by the U.S. government eroded sentiment towards crypto.
US rate jitters spark liquidity concerns
Robust U.S. employment data released on Friday has backed the Federal Reserve’s forecast of fewer rate cuts this year. In December, the U.S. economy added 256,000 jobs, surpassing forecasts of 153,000, and the unemployment rate declined to 4.1% from 4.2% in November.
This strong labor market performance suggests that the Fed may adopt a more cautious approach to monetary easing.
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