BTC Climbs Back Above $68K After U.S. Unemployment Hits 4.3% - Crypto Economy

CryptoEconomy · 2026-02-11T17:26:02+00:00

TL;DR BTC popped above $68,000 after the jobs report, but nearly an hour later slipped back under that level. Payrolls rose 130,000 versus 70,000 expected and unemployment fell to 4.3%; traders had priced about 21% odds of a March cut. The release was delayed from Feb. 6 after a shutdown.

CryptoEconomy

2026-02-11 17:26:02

TL;DR

BTC popped above $68,000 after the jobs report, but nearly an hour later slipped back under that level.
Payrolls rose 130,000 versus 70,000 expected and unemployment fell to 4.3%; traders had priced about 21% odds of a March cut. The release was delayed from Feb. 6 after a shutdown.
CoinMarketCap showed BTC near $66,567, down about 3.6% in 24 hours, with $65,757.30 low and $69,954.26 high, as yields hit 4.20%.

The US jobs surprise gave crypto a brief window of relief, with Bitcoin climbing back above $68,000 after trading near $67,000 earlier in the session. A single macro print was enough to spark a reflex bid, but not enough to reset positioning. January payrolls rose by 130,000 versus forecasts for 70,000, and unemployment eased to 4.3% from 4.4%, according to the Bureau of Labor Statistics. The release was delayed from February 6 due to a short government shutdown and followed revisions showing 2025 average monthly job gains were cut to 15,000 from 49,000.

Rates, yields, and a fast fade after the BTC bounce

The upside in BTC tracked a broader repricing of rate expectations as markets digested the labor beat. Stronger employment data tightened the runway for near term easing, keeping risk assets highly sensitive to each data point. Before the report, traders had priced a 21% probability of a March rate cut, a figure expected to compress further. The Federal Reserve paused its rate cutting cycle at its January meeting after several cuts in late 2025. After the release, the 10 year Treasury yield rose five basis points to 4.20%, while Nasdaq 100 futures gained 0.55% and S&P 500 futures rose 0.5%.

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Bitcoin initially responded in line with that risk-on impulse. BTC briefly trimmed losses and printed $68,326 in the hour after the report, reinforcing how macro still drives the short term tape. Nearly an hour after reclaiming $68,000, however, momentum cooled and the price slipped again. CoinMarketCap later showed BTC back in the mid $66,000s, down about 3.6% over 24 hours. The same page listed a 24 hour low of $65,757.30 and a high of $69,954.26, with a live print near $66,567.

That intraday round trip is a useful read-through for desks trying to separate signal from noise. The operating reality is choppy liquidity, headline driven flows, and traders managing risk inside a wide intraday band. The report also noted Bitcoin has traded in a narrow range around $69,000 through the week as inflation and labor data steer near term volatility. Away from crypto, manufacturing remained a weak spot, shedding 8,000 jobs in January for a 32nd consecutive monthly loss. Net, the macro backdrop is still a gating factor for whether rallies can extend beyond tactical bounces. Traders now watch CPI, yields, and flows for the next break.

BTC-2,43%

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