BITCOIN STEADY AT $90K AS LABOR MARKET COOLS, BOOSTING RATE-CUT HOPES

Bitcoin hovered close to the $90,000 mark on Thursday after new U.S. labor market data pointed to a cooling—but still resilient—economy. The latest numbers reinforced a pattern shaping early 2026: layoffs remain limited, hiring is slowing, and economic growth is easing without breaking down.

Initial jobless claims rose slightly in the first week of the year, with 208,000 Americans applying for unemployment benefits for the week ending January 3, according to the Labor Department.

That was up from 200,000 the previous week but still below economists’ expectations of 210,000, suggesting the labor market remains relatively strong despite slowing momentum.

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Bitcoin was trading around $90,464 at the time of the data release, up about 1.2%. However, it later slipped to its lowest level since January 3, falling more than 5% from this week’s peak.

The pullback comes as U.S. investors continue to pull money from Bitcoin exchange-traded funds. Spot Bitcoin ETFs recorded outflows of more than $486 million on Wednesday, following losses of over $243 million the day before.

Despite the recent selling, spot Bitcoin ETFs have still attracted a total of $57 billion in net inflows, down from a peak of more than $65 billion last year. Together, these funds now hold over $118 billion in assets, representing roughly 6.5% of Bitcoin’s total market value.

Fed officials say…

Federal Reserve officials signaled a more accommodative stance, with senior policymaker Stephen Miran reiterating his support for further interest rate cuts this year. Miran has argued that the Fed should deliver a total of 150 basis points in cuts to help support the labor market. He said:

“I’m looking for about a point and a half of cuts. A lot of that is driven by my view of inflation. Underlying inflation is running within the noise of our target, and that’s a good indication of where overall inflation is going to be in the medium term.”

Appointed by President Donald Trump, Miran has emerged as one of the most dovish voices at the central bank. He has advocated for 50-basis-point rate cuts at each of the next three policy meetings.

Still, it remains uncertain whether Miran’s push for deeper rate cuts will gain broader support, as many Fed officials have so far been cautious about easing policy further. The dot plot from the Fed’s most recent meeting suggests policymakers currently expect just one additional rate cut this year.

If implemented, Miran’s proposed 150 basis points of cuts would likely be positive for Bitcoin, which has historically performed well during periods of looser monetary policy. Lower interest rates tend to encourage risk-taking and increase liquidity across financial markets.

Further supporting the bullish case, any rate cuts would coincide with additional U.S. government stimulus, particularly through tax refunds. The average individual tax refund is expected to reach around $3,167, up slightly from $3,138 in 2024.

Taken together, larger refunds, potential tax cuts, and a growing M2 money supply could provide fresh tailwinds for Bitcoin and the broader altcoin market.

Bitcoin Technical Analysis Signals Further Upside

Bitcoin’s price action continues to point toward additional gains, according to the 12-hour chart. The cryptocurrency has been in a steady uptrend over the past few months, climbing from a November low of $80,590 to a recent high of $94,516.

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The chart shows the formation of an ascending triangle pattern, with horizontal resistance near $94,516 and a rising trendline linking the higher lows recorded since November. This setup is typically viewed as a bullish continuation signal.

Based on this pattern, the outlook for Bitcoin remains positive. A confirmed breakout could pave the way toward the next major target around $103,465, which corresponds to the 50% Fibonacci retracement level. That would represent a potential upside of roughly 15% from current prices.