Bitcoin climbs to $67K as strong US jobs data keeps rate-cut hopes in check
Synopsis
Bitcoin bounced back to $67,000 mark after dipping to $65,000 yesterday. Strong U.S. jobs data reduced expectations of an early interest rate cut. Major altcoins saw mixed movements. Bitcoin and Ethereum experienced slight declines. Institutional demand through ETFs continues to support prices. Investors are watching upcoming inflation data for further market direction.
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Bitcoin rebounded to the $67,000 mark from an intraday low of $65,000 on Thursday after strong January U.S. jobs data dampened hopes of an early rate cut. The cryptocurrency was trading around $67,120.
Over the past 24 hours, Bitcoin and Ethereum slipped 0.6% and 0.7%, respectively. XRP, Solana, Dogecoin and Cardano fell more than 2%, while BNB, Tron and Hyperliquid gained over 6% among major altcoins.
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This shows buyers remain active at lower levels. Markets remain cautious as stronger-than-expected U.S. jobs data from January showed the addition of 130,000 jobs, with unemployment at 4.3% hence reducing hopes of an early rate cut.
Crypto TrackerTOP COINS (₹) BNB55,807 (2.86%)XRP125 (1.37%)Ethereum178,629 (0.97%)Bitcoin6,082,094 (0.25%)Tether91 (0.02%)
The global crypto market capitalisation edged down 0.71% to $2.31 trillion, according to .
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Market volatility is compressing day by day, keeping cryptos consolidated within a tight range, according to the CoinDCX Research Team.
In the past week, Bitcoin and Ethereum tumbled 5% and 6% respectively. BNB, XRP, Solana, Tron, Dogecoin, Cardano, and Hyperliquid fell over 11% among the major altcoins.
Nischal Shetty, Founder WazirX, said Bitcoin has continued to trade near the $67,000–$68,000 range over the last 24 hours, showing resilience despite mixed global macro signals.
Shetty further said that institutional signals remain constructive. He added that recent inflows into the U.S. Bitcoin ETFs suggest that long-term participants continue to accumulate during periods of consolidation.
Market perspective
Vikram Subburaj, CEO, Giottus
Bitcoin remained under pressure on Wednesday and extended its early-February consolidation as macro signals continued to outweigh crypto-specific catalysts. For investors with a 6-18 month lens, this is a sensible zone to accumulate gradually. However, do it with discipline. Stagger entries via SIPs, and use futures selectively (small size, defined stops) to hedge downside if support gives way.
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Akshat Siddhant, Lead Quant Analyst, Mudrex
Bitcoin is facing renewed macro headwinds after stronger-than-expected U.S. jobs data lowered the probability of near-term Federal Reserve rate cuts. Despite this, steady institutional demand continues to provide support, with Bitcoin ETFs recording $166.6 million in net inflows, which helps stabilize prices.
Friday’s CPI release could shape rate expectations further. A softer inflation print would strengthen the case for policy easing and support risk assets.
