Bitcoin price news: BTC holding in tight range as markets brace for January employment data

Bitcoin was holding a tight range near $69,200 on Tuesday, recovering initial losses seen at the start of the U.S. trading session. Trading volume remained low during recent declines, suggesting retail investors were stepping back rather than panic selling. Analysts note that Bitcoin is approaching critical technical support levels, and recent price action has been driven more by leveraged derivatives than spot demand, leaving prices sensitive to crowded positions. Markets are now awaiting the delayed January Nonfarm Payrolls Report, scheduled for Wednesday, with economists forecasting 70,000 jobs added. However, former Trump administration officials, including Peter Navarro, suggested expectations for job growth should be significantly lowered, leading to a drop in the 10-year Treasury yield. Despite lower yields, which typically benefit assets like Bitcoin, the cryptocurrency has recently plunged even as the Federal Reserve has cut rates.

(Source：CoinDesk)