Bitcoin’s inability to climb past $110,000, even after a highly supportive weak jobs report, is sending a cautious signal to the market. With a Fed rate cut now fully priced in, the event itself may fail to ignite the next leg up.
“The soft U.S. jobs report did create expectations for a more dovish Fed… however, the market had already priced in some degree of policy easing,” cautioned Rachael Lucas, crypto analyst at BTC Markets.
She points to profit-taking and stagnant ETF flows as the key forces currently suppressing price action. This suggests that without a surge of new buying pressure, Bitcoin could face resistance even after a confirmed rate cut.
