U.S. unexpectedly lost 92,000 jobs in February, unemployment rate rose to 4.4%
Bitcoin remained under pressure even as the data likely puts back in play the chances of Fed rate cuts in the first half of 2026.
By James Van Straten|Edited by Stephen AlpherUpdated Mar 6, 2026, 1:45 p.m. Published Mar 6, 2026, 1:33 p.m.
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What to know:
- The U.S. lost 92,000 jobs in February versus economist forecasts of 59,000.
- The unemployment rate came in at 4.4% against expectations of 4.3%.
- Bitcoin remained lower for the session at $70,000 following the data.
The U.S. job market weakened appreciably in February, possibly putting back in play the chance of Federal Reserve rate cuts in the first half of 2026.
The country loss 92,000 jobs last month, according to Friday's report from the Bureau of Labor Statistics. Economists had forecast an addition of 59,000 new jobs, compared with January's gain of 126,000.
The unemployment rate rose to 4.4% versus economist expectations of 4.3%, and January's reading of 4.3%.
Under pressure overnight ahead of the report and trading down to $70,000 as oil soared higher and equity markets dipped, bitcoin BTC$69,966.28 remained right around that mark in the minutes following the data.
U.S. stock index futures continue lower, with the Nasdaq down 1% and S&P 500 off 0.8%. The 10-year Treasury yield has fallen four basis points to 4.11%. Precious metals reversed an early decline, with gold now higher by 1% and silver by 2%. WTI crude oil is up 6.2% to $86 per barrel.
Ahead of this morning's report, markets were pricing in a 95% probability that the Federal Reserve would hold rates steady at the March 18 meeting and an 85% chance of no rate cut in April.
Meanwhile, rising oil prices linked to tensions in the Middle East could add upward pressure to inflation expectations. If sustained, higher energy prices may feed into broader inflation, particularly through energy and food costs. Combined with signs that the U.S. economy may be re-accelerating, this could prompt markets to reassess the path of monetary policy.
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Bitcoin extends decline from $74,000, derivatives data point to cautious positioning
By Oliver Knight, Saksham Diwan|Edited by Sheldon Reback2 hours ago
BTC traded just above $70,000 as Middle East tensions drove oil higher and traders reassessed inflation in advance of the U.S. jobs report due later Friday.
What to know:
- Bitcoin is hovering just above $70,000 after failing to sustain a move to $74,000 earlier this week amid a broader selloff in risk assets.
- The escalating war with Iran pushed oil to $85, raising inflation concerns and prompting traders to price in the possibility of a European Central Bank interest-rate increase.
- Derivatives markets show rising open interest but weak institutional conviction, with short hedging increasing and options pricing a near-term volatility event.
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