Bitcoin stayed under pressure after the latest U.S. labor market report, even as the weaker data revived speculation that the Federal Reserve could consider cutting interest rates in the first half of 2026.
The U.S. job market showed clear signs of slowing in February. Data released Friday by the U.S. Bureau of Labor Statistics revealed the economy unexpectedly lost 92,000 jobs last month. Economists had anticipated an increase of 59,000 positions, following January’s gain of 126,000.
Meanwhile, the unemployment rate climbed to 4.4%, slightly above expectations of 4.3% and up from January’s 4.3% reading.
Ahead of the report, Bitcoin had already been trading under pressure, slipping toward the $70,000 level overnight as oil prices surged and U.S. equities weakened. After the data release, Bitcoin continued to hover near that area, changing hands around $67,300.
U.S. stock futures extended their losses following the report. Futures tied to the Nasdaq Composite were down about 1%, while those linked to the S&P 500 declined roughly 0.8%. The yield on the 10-year U.S. Treasury note slipped four basis points to 4.11%.
In commodities, precious metals rebounded from earlier declines. Gold gained about 1%, while Silver advanced roughly 2%. Oil prices also surged, with West Texas Intermediate crude oil jumping 6.2% to around $86 per barrel.
Before the jobs data was released, markets had priced in a 95% probability that the Federal Reserve would keep interest rates unchanged at its March 18 meeting, along with an 85% chance that rates would remain steady again in April.
At the same time, higher oil prices linked to escalating tensions in the Middle East may complicate the inflation outlook. If energy costs remain elevated, they could feed into broader price pressures through fuel and food expenses. Alongside signs that the U.S. economy could be gaining momentum again, this may prompt investors to reconsider expectations for the future path of monetary policy.
