Українська
Русский
English
Bitcoin price today: drop to $67K ahead of U.S. labor market data
Bitcoin fell below the $67,000 mark during Asian trading on Wednesday as investors await key U.S. labor market data that could affect the trajectory of Federal Reserve interest rates.
The world’s largest cryptocurrency was trading 2.6% lower at $67,126.7 as of 07:46GMT.
Bitcoin recently recovered after last week’s drop to around $60,000 but failed to hold gains above $70,000, reflecting ongoing volatility and fragile sentiment in the crypto market.
Get exclusive crypto market analytics with analyst commentary on InvestingPro
Delayed U.S. labor market data on the agenda
The delayed U.S. employment report, originally scheduled for last week but postponed due to a brief government shutdown, is due to be released later on Wednesday.
The data is expected to show moderate job growth: economists forecast an increase of about 70,000 nonfarm jobs in January, while the unemployment rate is expected to remain stable at around 4.4%.
Traders are also awaiting the release of the U.S. Consumer Price Index (CPI) on Friday, which could further shape inflation expectations and influence the outlook for changes in Federal Reserve interest rates.
Market participants expect the Fed to keep rates unchanged until June this year after three consecutive cuts at the end of 2025, according to CME FedWatch data.
Typically, expectations of Fed policy easing and lower interest rates support risk assets, including Bitcoin, by reducing the opportunity cost of holding non-yielding assets.
However, this cycle is different: Bitcoin’s price remains subdued despite Fed rate cuts. Analysts point to reduced liquidity, weak institutional interest, and fading speculative demand as factors weighing on the digital currency.
Robinhood shares fall due to weak crypto revenue
Robinhood Markets (NASDAQ: HOOD) shares declined in extended trading on Tuesday after the online broker reported quarterly earnings below expectations, impacted by lower cryptocurrency trading revenue and a broader slowdown in digital asset activity.
The fintech platform reported fourth-quarter revenue of about $1.28 billion, below analysts’ forecasts of $1.40 billion. Crypto-related revenues fell sharply, reflecting subdued market demand, and offset gains in stock and options trading.
Robinhood shares fell more than 8% in after-hours trading.
Crypto prices today: altcoins fall; XRP loses 4%
Most altcoins also fell on Wednesday, continuing declines amid cautious sentiment.
The world’s second-largest cryptocurrency, Ethereum, lost 2.7% to $1,952.92.
The world’s third-largest cryptocurrency, XRP, fell 4% to $1.36.
Solana and Polygon declined by 4.1% each, while Cardano fell by 2.5%.
Among meme tokens, Dogecoin dropped by 3%.
See also: "Bitcoin fell below $67,000 again! Will the decline continue? Here are the details"
