Bitcoin Slides To $91,000 Ahead Of Upcoming Key Inflation Data
Bitcoin (CRYPTO: BTC) is entering a pivotal week, as concerns over a potentially overheating U.S. economy continue to drag down the apex cryptocurrency.
What Happened: Following a stronger-than-expected non-farm payrolls report, which showed 256,000 jobs added against a forecast of 164,000, fears of accelerated inflation have been reignited, leading to a retreat in equity markets, according to QCP Capital.
The robust employment data has effectively nullified expectations of near-term interest rate cuts by the Federal Reserve.
Compounding these concerns are the prospects of potential Trump-era tariffs, which could further escalate inflationary pressures.
Bitcoin is trading around $91,100 in early morning U.S. hours, down 3.4% over the past 24 hours.
Ethereum (CRYPTO: ETH) has followed king crypto lower, trading around $3,080, 5.8% down.
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