Bitcoin Fails to Break $116K Despite Positive US Jobs Report and Increased Fed Rate Cut Expectations

Despite a strong US jobs report, Bitcoin has been unable to overcome the $116,000 level. This suggests that investors may be concerned about other factors, such as inflation or future monetary policy. Furthermore, expectations of a Federal Reserve rate cut have exceeded 75%, reflecting anticipation of looser monetary policy in the near future. However, this has not translated into a significant price increase for Bitcoin, indicating strong resistance at that level. The market is closely monitoring economic developments and upcoming data releases to assess the future direction of Bitcoin.