Bitcoin rallies thwarted by fading Fed rate cut odds, softening US macro
Bitcoin continued to sell near $90,000 as investors reacted to weak US jobs data and slowing economic growth by shifting into safer assets.
Key takeaways:
Strong demand for US Treasurys and lower odds of a Fed rate cut indicate that investors are shifting toward safer assets, reducing interest in Bitcoin.
Economic weakness in Japan and softer US job data add pressure to Bitcoin, limiting its use as a hedge in the near term.