US Jobs Data Fuels Bearish Bitcoin Outlook; Traders Anticipate Only One Rate Cut
The latest non-farm payrolls data showed that the number of employed people in the United States increased to 256,000 in December, and the unemployment rate dropped to 4.1%. The unemployment rate was also lower than expected. Following the release of the non-farm payrolls report, traders are now betting that the Fed will not cut interest rates in the first half of the year. Traders predict the Fed will cut interest rates only once this year, likely in October, with no rate cuts expected before June. This development bodes bearishly for Bitcoin, as investors may be disappointed by a possible single rate cut from the Federal Reserve this year, following three cuts last year.
