By Nina Shah
Bitcoin slipped beneath the $67,000 mark in Asian trading on Wednesday, pressured ahead of a delayed U.S. jobs report that market participants say could affect the Federal Reserve's policy path. The world’s largest cryptocurrency was trading 2.6% lower at $67,126.7 by 02:46 ET (07:46 GMT).
After a recovery from last week’s drop toward the $60,000 area, Bitcoin has struggled to hold gains above $70,000, illustrating continuing volatility and a fragile risk appetite within the crypto complex.
Delayed U.S. employment data in focus
The U.S. employment report, postponed from last week following a brief government shutdown, is due later on Wednesday. Economists expect the data to show modest payroll gains, with forecasts for nonfarm payrolls to increase by about 70,000 in January and the unemployment rate to remain near 4.4%.
Investors are also looking ahead to the U.S. Consumer Price Index release on Friday, which could further influence inflation expectations and, by extension, the outlook for Federal Reserve interest rate decisions.
Current market pricing tracked by the CME FedWatch tool suggests participants expect the Fed to keep rates on hold until June, following three consecutive reductions during late 2025. Traditionally, expectations for easier Fed policy and lower interest rates have supported risk assets, including Bitcoin, by lowering the opportunity cost of holding non-yielding instruments. This cycle has been different, however, with Bitcoin prices remaining muted despite projected Fed easing. Analysts have pointed to reduced liquidity, weak institutional demand, and fading speculative interest as headwinds for the digital asset.
Robinhood earnings weigh on sentiment
Sentiment in crypto-linked equities was dented after Robinhood Markets reported quarterly results that fell short of expectations. The online brokerage disclosed fourth-quarter revenue of about $1.28 billion, below analysts’ estimates of $1.40 billion. The company said crypto-related revenue declined sharply, reflecting subdued market demand and offsetting gains in equities and options trading. Robinhood’s shares dropped more than 8% in after-hours trading.
Altcoins mostly weaker
Broader digital-asset prices were lower on Wednesday as caution prevailed. Ethereum fell 2.7% to $1,952.92. XRP slid 4% to $1.36. Solana and Polygon each declined 4.1%, while Cardano was down 2.5%. Among meme tokens, Dogecoin eased 3%.
Market participants will continue to monitor the delayed jobs print and the CPI release later in the week for fresh guidance on policy direction and liquidity conditions that could support or further pressure crypto assets and related equities.