Bitcoin hovered around $67,000 during Thursday’s Asian session, showing little movement as investors weighed stronger-than-expected U.S. jobs data that reduced hopes for an imminent Federal Reserve rate cut. The leading cryptocurrency edged up 0.4% to $67,102.8 but remained below the crucial $70,000 threshold, with trading subdued amid thinner liquidity conditions.
After bouncing back from a steep drop toward $60,000 earlier this month, Bitcoin has struggled to rebuild bullish momentum.
Robust U.S. jobs data tempers rate-cut expectations; CPI in focus
Figures released Wednesday showed U.S. nonfarm payrolls rose more than anticipated in January, highlighting ongoing strength in the labor market. The unemployment rate stayed near multi-month lows, and wage growth remained solid—reinforcing expectations that the Fed may keep interest rates elevated for longer.
In response, traders scaled back bets on a near-term rate cut, with market pricing now suggesting lower chances of easing before June. Prolonged higher rates tend to pressure risk-sensitive assets like cryptocurrencies.
Market participants are now looking ahead to weekly jobless claims data due later Thursday for additional insight into labor conditions. Friday’s U.S. Consumer Price Index (CPI) report will also be closely watched for signals on inflation and the Fed’s policy path.
Bitcoin’s continued failure to break above $70,000 underscores cautious sentiment and lingering volatility following its recent decline, keeping prices largely range-bound.
BlockFills suspends withdrawals amid crypto downturn – reports
Crypto liquidity provider BlockFills has reportedly paused client withdrawals amid a sharp downturn in digital asset prices, according to multiple media outlets on Wednesday.
The Financial Times and other sources said the suspension, which began last week, aims to safeguard both clients and the company during turbulent market conditions while restoring liquidity on the platform.
Clients are reportedly still able to trade spot and derivatives under certain restrictions.
BlockFills serves over 2,000 institutional clients and processed more than $60 billion in trading volume in 2025, the FT noted. The move echoes similar steps taken by crypto firms during previous market slumps.
Crypto prices today: Altcoins edge higher in sideways trade
Most major altcoins posted modest gains Thursday amid range-bound trading.
Ethereum, the second-largest cryptocurrency, rose 1.1% to $1,972.92, while XRP gained 1.6% to $1.38. Solana traded flat, whereas Cardano and Polygon each climbed 2.5%. Among meme coins, Dogecoin advanced 2.2%.
Sources: Ayushman Ojha
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