#CryptoMarketDip

The reason for Bitcoin's price dropping more than 5% from

$102,000 down to $96,200 has decreased by over 5% since it reached a high of $102,000 on Monday. This drop has pushed the price of Bitcoin down to around $96,200, and the asset has continued to struggle to recover, oscillating near this level for several hours after the decline.

This adjustment marks a challenging start to 2025, as the market reacts to the increasing number of jobs in the United States and the stance of the Federal Reserve (Fed) on interest rate policy. Reports from the Job Openings and Labor Turnover Survey (JOLTS) indicate that the number of job openings rose to 8.1 million in November, compared to the revised figure of 7.8 million in October.

The strong labor market reduces expectations for easing monetary policy, while also suggesting that interest rate cuts are no longer an urgent priority. This aligns with forecasts from the CME FedWatch tool, indicating a 95% probability that the Fed will maintain interest rates in the upcoming meeting on January 29.

The decline not only affects Bitcoin but also extends to other major digital assets. Ethereum dropped 8.6%, XRP lost 4.4%, Solana fell 8.5%, and Dogecoin decreased by 12% over the past 24 hours. The Pudgy Penguins token recorded the most significant decline, with a drop rate of up to 12.3%.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should conduct thorough research before making decisions. We are not responsible for your investment decisions.