US Jobs Data Fuels Bearish Bitcoin Outlook; Traders Anticipate Only One Rate Cut

The latest Nonfarm payrolls data showed that US employment increased to 256,000 in December while unemployment rate dropped to 4.1%. The unemployment rate also came in lower than expected.  After the release of this nonfarm payroll report, traders are now betting against a first-half rate cut from the Federal Reserve. Traders predict the Fed will cut interest rates only once this year, likely in October, with no cuts expected before June. This development signals a bearish outlook for BTC, as investors may be disappointed by the Fed’s potential single rate cut this year, following three cuts last year.