The release of stronger-than-expected U.S. employment data has significantly impacted Bitcoin's price movement today. The December jobs report, which showed the addition of 256,000 jobs, has led to a surge in U.S. treasury yields and a decline in risk assets, including Bitcoin. This development has cast doubt on the likelihood of further interest rate cuts by the Federal Reserve in 2025, a scenario typically unfavorable for risk assets. Additionally, the U.S. Department of Justice's authorization to sell 69,370 Bitcoin seized from the Silk Road marketplace has raised concerns about increased supply, further contributing to bearish sentiment in the market.
The ProShares Bitcoin Strategy ETF (BITO) experienced a slight decline, dropping 0.09% to $22.82 at 11:00 AM on Friday, January 10.