Over the past 24 hours and at the time of writing, Bitcoin has recorded a 3.16% decline, placing it among the assets trading lower on the day.
The U.S. November nonfarm payrolls data coming in above expectations may have strengthened views that the Federal Reserve could maintain a cautious stance on near term rate cuts. This may have weighed on risk appetite across markets. Bitcoin’s brief push higher followed by renewed selling pressure suggests that investors may be pricing macro signals cautiously, which could have contributed to the pullback in price.
