Crypto Risk-Off: Bitcoin Remains Below $67,000
Bitcoin weakened on Wednesday (February 11th), falling back below $67,000 as market participants opted for a defensive stance ahead of the release of the January US employment data (NFP). Selling pressure emerged as investors held risk positions ahead of the significant data that could alter Fed interest rate expectations.
At 3:58 PM WIB (Western Indonesian Time), Bitcoin (BTC) was trading at $66,944, down -3.09% from its previous close. Intraday movements showed high volatility, with a range of $66,601–$69,903.
The market believes crypto's direction remains highly sensitive to the interest rate outlook: a weaker NFP could potentially revive the easing narrative, while solid data could lift the dollar/yields and pressure risk assets, including crypto. The next focus is the US CPI on Friday, which could strengthen or undermine inflation expectations.
The pressure isn't limited to Bitcoin. Ethereum (ETH) was at $1,948.68 (-3.22%), while XRP fell to $1.36 (-4.90%).
Other altcoins also moved lower: Solana (SOL) at $81.02 (-4.23%), Cardano (ADA) at $0.25467 (-3.78%), and Dogecoin (DOGE) at $0.090431 (-3.54%). With fragile sentiment, the crypto market remains vulnerable to volatility spikes once US data is released and leverage positions adjust accordingly.
Source: Newsmaker.id