Bitcoin Price Stalls Below $70K as Market Awaits Key U.S. Jobs Data

The price of Bitcoin (BTC) continues to consolidate in a narrow trading band below the critical $70,000 level. Market participants are exhibiting caution, with trading volume subdued as the focus shifts to the upcoming release of U.S. employment figures. The Non-Farm Payrolls (NFP) report, scheduled for Wednesday, is a key macroeconomic indicator that could influence Federal Reserve policy and, consequently, risk asset markets including cryptocurrencies. Analysts suggest that stronger-than-expected jobs data may reinforce expectations of prolonged higher interest rates, potentially applying downward pressure on BTC. Conversely, weaker data could boost market sentiment by increasing the likelihood of future monetary easing. The current price action indicates a period of indecision, with the $70,000 resistance and the $68,000 support levels defining the immediate range.