Bitcoin and other major cryptocurrencies declined broadly after U.S. payroll data showed the labor market remained unexpectedly strong, eroding bets on earlier rate cuts. Traders retreated from expectations for a rapid policy easing, sending Bitcoin down to about $66,000 in early trading, while Ripple fell around 2% and Ethereum slumped roughly 5%.
Whales were also noted to be resuming accumulation of Bitcoin and Ethereum, even as the broader market faced continued selling pressure. This activity suggests long-term holders are adding to positions even as short-term selling pressure remains.
The latest move underscores the sensitivity of crypto markets to macro data. Volatility is likely to persist as traders reassess policy paths.
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