Bitcoin stayed around $90,000 on Thursday. U.S. job data showed a cooling economy. Jobless claims rose slightly to 208,000, below expectations of 210,000. Continuing claims climbed to 1.91 million, showing it’s still hard to find work.
Broader labor trends look weak. Employers cut 1.2 million jobs in 2025, the most in five years. Hiring plans fell 34%, the lowest since 2010. Job openings dropped to a 14-month low, with fewer than one opening per unemployed worker.
Bitcoin dropped briefly over 5% this week but traded near $90,464. Spot Bitcoin ETFs lost $486 million on Wednesday, following $243 million the day before. Total ETF assets are still over $118 billion, about 6.5% of their market value.
Fed official Stephen Miran favors 150 basis points of rate cuts this year. He said inflation is stable, giving room for easier policy. Analysts say rate cuts and stimulus, including higher tax refunds, are bullish for Bitcoin and crypto.
Technicals look positive. Bitcoin has formed an ascending triangle, with resistance at $94,516. The next target could be $103,465, roughly 15% above current levels.
Investors watch Friday’s payroll report. Economists expect 73,000 new jobs and a 4.5% unemployment rate. The results could show whether the job market is holding up or slowing further.
