Bitcoin remained under pressure after the latest U.S. employment report, even as the weak data revived speculation that the Federal Reserve may resume interest-rate cuts in the first half of 2026.
The U.S. labor market unexpectedly deteriorated in February. Figures released Friday by the U.S. Bureau of Labor Statistics showed the economy shed 92,000 jobs during the month, sharply missing economists’ forecasts for a gain of 59,000 jobs. The result also marked a reversal from January’s increase of 126,000 positions.
At the same time, the unemployment rate ticked up to 4.4%, slightly above expectations of 4.3% and higher than January’s 4.3%.
Bitcoin had already been trading lower ahead of the report, slipping toward the $70,000 level overnight as oil prices surged and U.S. equities declined. After the data was released, Bitcoin continued hovering near that range, trading around $67,300.
U.S. equity futures remained under pressure following the report. Futures tied to the Nasdaq Composite fell about 1%, while those linked to the S&P 500 declined roughly 0.8%. Meanwhile, the yield on the 10-year U.S. Treasury note slipped four basis points to 4.11%.
Commodity markets moved higher, particularly energy. West Texas Intermediate crude oil surged 6.2% to around $86 per barrel. Precious metals also rebounded from earlier declines, with Gold rising about 1% and Silver gaining roughly 2%.
Before the employment figures were released, markets had priced in a 95% probability that the Federal Reserve would keep rates unchanged at its March 18 policy meeting and an 85% chance that policymakers would also leave borrowing costs steady in April.
However, the surge in oil prices tied to escalating tensions in the Middle East could complicate the inflation outlook. Persistently higher energy costs may filter into broader price pressures through fuel and food expenses. Combined with signs that parts of the U.S. economy may be regaining momentum, this dynamic could force investors to reconsider expectations for the path of monetary policy.
