Bitcoin fell below $93,000, marking a 1.6% drop during European trading hours. This decline follows a reassessment by major investment banks of their expectations for Federal Reserve rate cuts after a robust U.S. jobs report. The report showed nonfarm payrolls increased by 256,000 in December, surpassing expectations and pushing the unemployment rate down to 4.1%. Consequently, Goldman Sachs delayed their next rate cut prediction to June from March, now expecting only two cuts in 2025. Bank of America, however, sees a potential rate hike or an extended pause, with risks favoring tighter policy. The broader crypto market also felt the pressure, with the CoinDesk 20 Index dropping over 3%. Meanwhile, traditional markets saw the S&P 500 futures decline by 0.3%, and the dollar index neared 110, its highest since late 2022.
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