en.bitcoinsistemi.com
The strong rebound on Friday following a sharp weekly decline in cryptocurrency markets was not sustained. Bitcoin, the largest cryptocurrency, faced renewed selling pressure after rallying near $72,000 and fell back below the $66,000 level.
Bitcoin, which experienced sharp losses throughout the week, fell as low as $60,000 last Thursday, but then surged by approximately 20% on Friday, approaching $72,000. However, the view that this recovery is merely a “dead cat bounce” is gaining traction.
In US morning trading, Bitcoin was trading just below $66,000, down over 4% in the last 24 hours. Ethereum fell approximately 5.5% to $1,938, while Solana dropped similarly to around $80. XRP also fell 3.5% to around $1.36.
Strong US employment data contributed to selling pressure in the markets. The US government reported an increase of 130,000 jobs in January, almost double economists’ expectations. The unemployment rate surprisingly fell to 4.3%.
Expectations for interest rate cuts weakened rapidly after strong data. According to CME FedWatch data, markets are pricing in a 6% probability of a rate cut in March and 23% in April. Prior to the data release, these figures were 21% and 52%, respectively.
However, it is debatable whether interest rate cuts can pull the crypto market out of its bear trend. The sharp decline began despite the Fed’s three consecutive monetary policy easing meetings in 2025.
The crypto market continues to underperform globally at a time when other asset classes are in a bull market. This indicates a decline in investor interest. According to Coinglass data, Bitcoin futures open interest has fallen by 51% compared to its peak in October 2025. This points to a significant pullback in traders’ leverage and risk appetite.
In the last 24 hours, a total of $397 million worth of positions were liquidated in the cryptocurrency market. Of this, $286 million consisted of long positions and $110 million consisted of short positions.
*This is not investment advice.