Bitcoin Flounders Ahead of Friday Jobs Report That Might Push Fed to Slash Rates by 50 Basis Points

This coming easing cycle, though, is thus far generating zero enthusiasm for taking prices higher. Each signal over the past several weeks that rate cuts were coming has resulted in only a momentary break from bitcoin’s downtrend. At the current $56,300, bitcoin is lower by 5% over the last month and off more than 23% from a record high above $73,500 touched six months ago.