Bloomberg Analyst: Cryptocurrency Breaks Key Support Level, May Continue to Underperform Precious Metals Through 2026

February 11 — Foreign media analysis of the U.S. January nonfarm payroll report noted that employment growth accelerated last month, with 130,000 jobs added — far exceeding expectations — while the unemployment rate fell to 4.3%. This signals a stabilizing labor market, which could lead the Federal Reserve to keep interest rates steady for now as policymakers monitor inflation. Part of the better-than-expected job growth stems from seasonal sectors like retail and delivery, which hired fewer holiday workers last year. January typically sees the highest concentration of holiday-related layoffs. Given sluggish seasonal hiring, layoffs were likely smaller than usual, giving a boost to job growth. Even with the January payroll gain, the labor market remains lukewarm, struggling even amid solid economic growth. Anxiety about jobs and high inflation has eroded Americans’ satisfaction with the Trump administration’s economic policies. Source: FX678

February 11th — Per The Block, crypto research firm K33 noted that Bitcoin’s drop to $60,000 last week could mark a local bottom. The latest sell-off saw capitulation-like behavior across spot, ETF, and derivatives markets, including extreme readings in trading volume, funding rates, and option skew. On-chain metrics show Bitcoin’s daily RSI fell to 15.9 — the sixth-lowest level since 2015, trailing only March 2020 and November 2018. The Crypto Fear & Greed Index also dropped to 6, its second-lowest reading on record. K33 expects Bitcoin to consolidate in the $60k-$75k range, with a potential retest of support. However, downside risk below recent lows is limited.

February 11 Financial Times (FT) reported on January’s non-farm payrolls (NFP) data, noting the U.S. economy added 130,000 new jobs—far exceeding market expectations. The figure signals an improvement in the U.S. labor market, following a string of weak prior readings. U.S. Treasury yields surged as investors pared back expectations for interest rate cuts this year. The two-year Treasury yield—highly sensitive to monetary policy—jumped to 3.55%, hitting a one-week high. The unemployment rate edged down to 4.3%. After years of robust growth, U.S. hiring slowed sharply in 2025. A batch of new reports released last week highlighted rising layoffs and falling job openings, suggesting the labor market could deteriorate further. However, the latest NFP data will reinforce Federal Reserve Chair Jerome Powell’s claim that the labor market is showing signs of “stabilization.” (Source: FXStreet)

February 11 — Per HTX Market Data, Bitcoin briefly climbed more than 1% to around $67,500 following the release of U.S. nonfarm payrolls and unemployment rate figures. U.S. Treasury bonds broadly declined across the curve after the jobs data was published. Earlier reports showed the U.S. January seasonally adjusted nonfarm payrolls increased by 130,000, far exceeding the market’s 70,000 estimate and marking the largest monthly gain since Q4 2025. The January unemployment rate came in at 4.3%, slightly below the 4.4% forecast and prior reading of 4.4%.

February 11: Traders have fully priced in a Fed rate cut for July, having previously anticipated the cut in June. (Xinhua News Agency)