Bitcoin Breaks $100K as U.S. Job Growth Misses January Forecasts.

Bitcoin Surpasses $100K After U.S. Job Growth Falls Short of Projections

Bitcoin (BTC) ended a three-day losing streak, climbing above $100,000 for the first time since February 4, following disappointing U.S. job growth data for January.

The Bureau of Labor Statistics reported that the U.S. economy added 143,000 jobs last month, falling short of the expected 170,000 and down from 256,000 in December. Despite the miss, the unemployment rate dropped to 4%, better than the anticipated 4.1%, matching December’s rate. Additionally, average hourly earnings increased by 0.5%, surpassing the expected 0.3% rise.

“With relatively high wage inflation and a low unemployment rate, it’s unlikely that the Federal Reserve will lower rates anytime soon, though the market has already factored this in,” said Zach Pandl, head of research at Grayscale. “As long as stock markets remain stable, Bitcoin could see new record highs later this quarter.”

In response to the jobs report, the probability of a rate cut by the Federal Reserve at its March meeting fell to 8% from 15%, according to CME FedWatch data.

After slashing the federal funds rate by 100 basis points during the last four months of 2024, investors had expected more of the same in 2025. However, recent strong economic and inflation data have led the Fed to backtrack on its dovish stance, and market expectations for additional rate cuts have dwindled.