Bitcoin Hits $100K as Job Data Shakes Markets, But Fed Rate Cut Hopes Fade

Bitcoin briefly surged past the $100,000 mark on Feb. 7 as Wall Street reacted to weaker-than-expected U.S. employment data. The report revealed that only 143,000 jobs were added in January—well below the projected 169,000—signaling that the labor market may be feeling the strain of restrictive financial policies.

Both crypto and stock markets rallied on the news, interpreting it as a sign of slowing economic momentum. However, the CME Group’s FedWatch Tool showed diminishing expectations for a Federal Reserve rate cut in March, with odds of a 0.25% reduction dropping to 8.5% from 14.5% before the jobs data release.

Despite the macroeconomic uncertainty, Bitcoin’s return to six figures was met with excitement among traders, reinforcing the narrative of its growing resilience in the face of shifting financial conditions.