Bitcoin Rejected At Key $93.5k As Fed Rate-cut Bets Meet ‘strong’...

Bitcoin price action fell back toward $90,000 on strong US jobs data as BTC ignored Fed rate-cut optimism, failing to flip the yearly open to support.

Bitcoin (BTC) slipped from the 2025 yearly open into Thursday’s Wall Street trading session as markets reacted to US jobs data.

Strong US labor-market data fails to dent hopes of a December Fed rate cut.

Crypto continues to diverge from stocks amid predictions of a strong finish to 2025 for the latter.

Bitcoin has multiple key resistance levels to reclaim in order to flip the bearish status quo.

Data from Cointelegraph Markets Pro and TradingView showed BTC price action weakening on surprisingly low US jobless claims.

Both initial and ongoing claims came in below expectations on the day, per data from the St. Louis Fed.

Despite this signal of labor market strengthening, and hence economic resilience, markets doubled down on expectations that the Federal Reserve would lower interest rates at its Dec. 10 meeting.

The reason, analysis argued, was a widening gap between risk assets and consumer strength.

“The Fed has no option: Even as inflation hits 3%, the Fed MUST cut rates to ‘save’ US consumers,” trading resource The Kobeissi Letter wrote in its latest commentary on X.

Source: CoinTelegraph