Bitcoin (BTC) has seen its price fall back to levels not seen in over a month, currently hovering above $91,000 after a 3% decline in the past 24 hours. The broader crypto market is also experiencing a downturn, with altcoins like Solana (SOL) and Chainlink (LINK) significantly underperforming. This selloff is occurring ahead of a crucial job report, which could reinforce or diminish expectations regarding potential Federal Reserve rate cuts in 2025. Recent strong economic data has previously led to speculation about the Fed not making rate cuts, and there are concerns that upcoming reports could imply the need for rate hikes instead. Following a substantial rally in the last quarter of 2024, driven by positive sentiment after Donald Trump's election and perceived favorable regulation, the recent economic indicators threaten to disrupt the momentum within the crypto market.

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