Bitcoin Retreats from $93.5K Resistance as Robust US Data Offsets Fed Rate-Cut Optimism

Bitcoin faced a significant rejection near the $93,500 level, retreating toward the $90,000 support zone. The downturn followed the release of stronger-than-expected US employment data, which tempered market enthusiasm surrounding potential Federal Reserve interest rate cuts. Despite prevailing optimism for monetary easing, the cryptocurrency failed to convert its yearly opening price into a reliable support floor, highlighting persistent selling pressure at higher valuations. Analysts point to this price action as indicative of a formidable bearish counter-narrative within the current market structure. The asset’s inability to sustain momentum above key technical thresholds suggests that macroeconomic data releases continue to exert a powerful influence, momentarily overshadowing supportive monetary policy forecasts. This interplay between bullish financial catalysts and bearish technical resistance is creating a phase of consolidation, with traders closely monitoring the $90,000 level for signs of either a foundational rebound or a deeper corrective move.