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Bitcoin (BTC) 
$105,255 started the week with a decline. Strong employment data released on Friday reshaped expectations regarding the Federal Reserve’s (Fed) interest rate cuts. As a result, the largest cryptocurrency fell below 93 thousand dollars, losing 1.6% of its value. This has left investors concerned about the possibility of a more significant pullback.
Fed’s Rate Cuts Likely Delayed
According to data released last Friday, non-farm employment increased by 256 thousand in December, significantly surpassing expectations. This robust job growth reduced the unemployment rate to 4.1%, while hourly earnings rose by only 0.3% monthly and 3.9% annually, falling short of projections.
Following the release of this data, Goldman Sachs announced that it had postponed the Fed’s rate cuts until June. The bank revised its previous forecast of three rate cuts in 2025 down to two.
BofA Warns of Possible Rate Hike
Bank of America (BofA) indicated that the Fed may consider raising rates in its next move. The bank highlighted a 100 basis points increase in 10-year U.S. Treasury yields since September. According to BofA’s analysis, the rate-cutting cycle has ended, and the Fed is expected to remain on hold for an extended period. However, they cautioned about the risk of a potential rate hike as the next step.
All eyes are now on the consumer price index data for December, which will be released on January 15. This data is considered vital as it may provide new insights that could influence the Fed’s policy. Analysts predict that the high volatility in the cryptocurrency market will continue based on current data.
