Bitcoin traders eye 'huge' US jobs data as BTC price risks $95K dip
2025-02-07
Category: None

Bitcoin BTCUSD stayed lower on Feb. 7 as prediction markets warned of a “huge beat” for US employment.
US jobs data threatens fresh Bitcoin headwind
Data from Cointelegraph Markets Pro and TradingView showed BTCUSD hovering around $97,000 after dropping up to 3.5% the day prior.
US jobless claims came in slightly higher than expected, and while notionally beneficial for risk assets, Bitcoin was in no mood to celebrate. Going forward, however, market commentators expected further employment-related market upheaval.
“Are we set for a huge jobs report beat tomorrow?” trading resource The Kobeissi Letter queried in a post on X on Feb. 6.
Kobeissi referred to upcoming data relating to jobs added in January. A growing discrepancy between official estimates and odds on prediction service Kalshi meant that more risk-asset pressure may come before the weekend.
Higher than-expected labor market growth would have implications for financial policy, allowing the Federal Reserve to keep interest rates higher for longer with risk-asset headwinds to match.
“Prediction markets currently expect that 238,000 jobs were added to the US economy in January, per Kalshi. In fact, there's a 28% chance that over 300,000 jobs were added in January,” the post continued.

The latest data from CME Group’s FedWatch Tool underscored markets’ lack of conviction over further policy easing in Q1.
Even a small 0.25% interest rate cut at the Fed’s next meeting in March currently attracts odds of just 14.5%.
BTC price forecasts see liquidity hunts returning
BTC price action, meanwhile, respected an entrenched range with clear bands of liquidity, reducing the chances of significant volatility.
“Short term liquidity is surrounding current price, so wouldn't surprise me for both sides to get run before the real move occurs,” popular trader Mark Cullen explained to X followers. 

Fellow trader Skew agreed, suggesting that an external volatility catalyst was required to spark a stronger BTC price trend.
“Another very much pinned market till resolution (usually driven by macro),” part of an X post about the Binance spot market stated on the day.

Skew likewise reiterated the importance of the day’s employment figures.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Bitcoin BTCUSD stayed lower on Feb. 7 as prediction markets warned of a “huge beat” for US employment.
US jobs data threatens fresh Bitcoin headwind
Data from Cointelegraph Markets Pro and TradingView showed BTCUSD hovering around $97,000 after dropping up to 3.5% the day prior.
US jobless claims came in slightly higher than expected, and while notionally beneficial for risk assets, Bitcoin was in no mood to celebrate.Going forward, however, market commentators expected further employment-related market upheaval.
“Are we set for a huge jobs report beat tomorrow?” trading resource The Kobeissi Letter queried in a post on X on Feb. 6.
Kobeissi referred to upcoming data relating to jobs added in January. A growing discrepancy between official estimates and odds on prediction service Kalshi meant that more risk-asset pressure may come before the weekend.
Higher than expected labor market growth would have implications for financial policy, allowing the Federal Reserve to keep interest rates higher for longer with risk-asset headwinds to match.
“Prediction markets currently expect that 238,000 jobs were added to the US economy in January, per Kalshi. In fact, there's a 28% chance that over 300,000 jobs were added in January,” the post continued.

The latest data from CME Group’s FedWatch Tool underscored markets’ lack of conviction over further policy easing in Q1.
Even a small 0.25% interest rate cut at the Fed’s next meeting in March currently attracts odds of just 14.5%.
BTC price forecasts see liquidity hunts returning
BTC price action meanwhile respected an entrenched range with clear bands of liquidity reducing the chances of significant volatility.
“Short term liquidity is surrounding current price, so wouldn't surprise me for both sides to get run before the real move occurs,” popular trader Mark Cullen explained to X followers. 

Fellow trader Skew agreed, suggesting that an external volatility catalyst was required to spark a stronger BTC price trend.
“Another very much pinned market till resolution (usually driven by macro),” part of an X post about the Binance spot market stated on the day.

Skew likewise reiterated the importance of the day’s employment figures.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.