Bitcoin (BTC) experienced a drop in value as major investment banks adjusted their expectations for Federal Reserve rate cuts due to a strong jobs report on Friday. BTC fell below $93,000 and was testing support near $92,000. The broader market also saw losses, with major coins like XRP, ADA, and DOGE posting larger declines. The S&P 500 futures traded lower, and the dollar index neared 110. The strong job report prompted Goldman Sachs to push out the next interest rate cut to June. While Goldman and JPMorgan still expect rate cuts, Bank of America fears an extended pause or even a rate hike. ING also believes there is a risk of an extended pause from the Fed, and if core inflation remains consistent, it could increase that view. The December consumer price index report is scheduled for release on January 15.



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