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Bitcoin defies 'extreme fear,' hot jobs report to show signs of resilience: Crypto Markets Today

CoinDesk
Bitcoin held near $67,800 despite a strong jobs report, signaling market resilience and potential seller exhaustion.

Summary

Bitcoin remained resilient, hovering near $67,800 even after a stronger-than-expected U.S. jobs report for January, which showed 130,000 jobs added, significantly dampening expectations for early Federal Reserve rate cuts.

This muted reaction suggests underlying cooling in broader economic sectors, despite the headline surge, leading to a shift in sentiment where seller exhaustion is noted, even as the Crypto Fear & Greed Index remains at an extremely low level of 5. Derivatives data shows stabilizing bearish momentum, though institutional conviction remains stagnant, while retail traders are paying a "panic premium" for short-term downside protection in the options market.

Separately, the token UNI surged after BlackRock announced it would list its $2.2 billion tokenized U.S. Treasury fund, BUIDL, on Uniswap and took a strategic stake in the exchange and its governance token.

(Source:CoinDesk)