Bitcoin Plummets 2% as Fed Cut Outlook Weighs; BTC @ $67,500

Bitcoin fell 2% to about $67,500 on Wednesday as a stronger-than-expected January jobs report and ongoing Fed rate-cut doubts tempered risk appetite, per CoinGecko. Ethereum and Solana dropped 3% to $1,950 and 3.4% to $80, respectively. The U.S. Department of Labor reported 130,000 new jobs in January, with the unemployment rate at 4.3%. Fed Chair Jerome Powell has signaled a data-dependent approach to rate policy, with an 8% chance of a 25-basis-point cut in March, down from 20% and 27% a day and a month ago. Lower interest rates usually support risk assets, yet cryptocurrencies lagged as major stock indexes advanced and gold gained 1.3% to about $5,100 per ounce. Analysts note investors remain cautious, with Bitcoin’s appeal waning amid broader AI and metals-driven market dynamics.