Bitcoin’s price remains under pressure, struggling to maintain momentum as investors await a critical US employment report. The cryptocurrency has been trading near $97,000, with concerns growing that a strong job market report could create downward pressure on risk assets, including Bitcoin.

With BTC already down 3.5% in the past 24 hours, traders are closely watching economic indicators that could influence Federal Reserve policies in the coming months. If the labor market shows unexpected strength, the Fed may delay interest rate cuts, which could lead to further Bitcoin price declines.

Why the US Jobs Report Matters for Bitcoin

The upcoming Non-Farm Payrolls (NFP) report, scheduled for release this week, could have a major impact on the financial markets. Historically, strong job growth has been linked to increased confidence in the economy, which can drive the US dollar and bond yields higher—factors that typically put pressure on Bitcoin and other risk assets.

Current market predictions suggest that the US economy may have added significantly more jobs than expected in January. While Wall Street analysts predict 169,000 jobs added, some forecasting tools, like Kalshi prediction markets, estimate the number could be as high as 238,000 or more.

If the actual data exceeds expectations, it could push Bitcoin lower, as investors may assume the Fed will delay rate cuts, making risk assets less attractive in the short term.

Bitcoin’s Key Price Levels: Will BTC Hold Above $95K?

Bitcoin has been trading within a tight range, struggling to break past its immediate resistance levels while finding support near $95K. Investors are monitoring these critical price levels for potential breakouts or breakdowns:

• Resistance Zone: $98,500 – A break above this level could push BTC towards $100K
• Support Zone: $95,000 – A drop below this could lead to a steeper decline

Currently, BTC is showing limited momentum, with sideways trading patterns suggesting that investors are hesitant to make big moves before the jobs report is released.

What Experts Are Saying About Bitcoin’s Next Move

Market analysts remain divided on where Bitcoin is headed next. Some suggest that short-term volatility is likely, while others believe BTC is forming a local bottom before its next rally.

A well-known crypto analyst, Capo, recently shared his thoughts on the market:

“If Bitcoin drops another 5%-10%, don’t panic. This looks like a normal correction before the next big move.”

However, he later suggested that Bitcoin could drop as low as $88K before recovering if the market reacts negatively to the jobs report and interest rate fears.

Will Bitcoin Rebound or Drop Below $95K?

The next few days will be crucial for Bitcoin’s price movement. If the jobs report comes in weaker than expected, Bitcoin could regain strength, potentially testing $98K and beyond. On the other hand, if job numbers exceed expectations, it could signal a strong economy, reducing the likelihood of interest rate cuts—a scenario that could see Bitcoin fall below $95K.

Investors should brace for increased volatility as the market reacts to economic data. Whether Bitcoin bounces back or dips further, the US labor market report will play a key role in determining its next big move.