Bitcoin price falls, US non-farm data suppresses expectations of Federal Reserve interest rate cuts
On Monday morning, Bitcoin (BTC) experienced a moderate decline, while Asian stock markets were hit harder due to better-than-expected US non-farm payroll data on Friday, which dampened market expectations of an early interest rate cut by the Federal Reserve.
According to Bitget data, at 7:10 UTC, Bitcoin was trading at a price of $44,022, down 0.04% from the previous day.
Since the release of the non-farm payroll data, concerns about whether the Federal Reserve will lower the federal funds rate in March have increased. Market traders now expect approximately five 25-basis-point interest rate cuts this year instead of six or seven similar-sized cuts priced in before the release of non-farm payroll data. The US Securities and Exchange Commission is widely expected to approve one or more spot ETFs on January 10th.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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