Bitcoin surged to $100,000 on February 7 as mixed US employment data provided relief for risk assets. The US added 143,000 jobs in January, which was below expectations of 169,000, suggesting that the labor market is not as robust under strict financial policies. Following the report, markets speculated that the Federal Reserve would not reduce interest rates in March, with the likelihood of a 0.25% cut dropping to 8.5%. While the unemployment rate fell to 4.0%, traders reacted positively with Bitcoin's price crossing the six-figure mark. Popular traders expressed optimism, highlighting key resistance levels around $102K, which could trigger continued bullish trends if surpassed. The sentiment surrounding Bitcoin remains strong as traders anticipate higher price movements following the recent developments in employment data and Fed policy expectations.

Source đź”—