US Jobless Claims Data Rises to 208,000, Bitcoin (BTC) Plummets: What’s the Impact on the Market?

Updated

January 9, 2026

Gambar US Jobless Claims Data Rises to 208,000, Bitcoin (BTC) Plummets: What’s the Impact on the Market?

Jakarta, Pintu News – This week, US initial jobless claims data showed an increase, while Bitcoin experienced a significant decline. This latest report sheds new light on the state of the labor market and its impact on interest rate policy and the crypto market.

The Rise in Unemployment Claims and Its Impact

The latest data from the US Labor Department showed that initial jobless claims for the week ending January 3 totaled 208,000, up from the previous week’s level which was revised to 200,000. Although this figure was lower than analysts’ estimates of 212,000, the increase signals a potential recovery in the labor market.

US jobless — Source: Coingape/Department of Labor

This recovery reduces the likelihood of further interest rate cuts ahead of the Federal Open Market Committee (FOMC) meeting in January. Previously, jobless claims have shown a significant decline, with data for the week ending December 27 recording only 199,000 claims, well below expectations of 219,000. Revised data also showed a minimal increase of only 1,000 claims, indicating the resilience of the labor market.

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Bitcoin (BTC) Price Drop and the Factors Affecting It

Following the release of the jobless claims data, Bitcoin (BTC) price dropped below $90,000 and is trading around $89,800. The cryptocurrency is down more than 2% on the day, from an intraday peak above $91,000. This drop came after the Bitcoin ETF recorded outflows of $480 million. However, the price rebounded above the psychological level of $90,000 before the jobless claims report was released.

This drop indicates a bearish sentiment in the crypto market, as indications of a recovery in the labor market reduce the need for further interest rate cuts. In the past year, three rate cuts by the Fed have helped push the price of Bitcoin (BTC) to a new record high of $126,000.

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Macroeconomic Data Ahead of January FOMC Meeting

Apart from the jobless claims data, there are still several macroeconomic data reports to be released ahead of the FOMC meeting on January 28. US jobs data will be released tomorrow, focusing on the nonfarm payrolls and unemployment rate reports. It is expected that December nonfarm payrolls will increase to 73,000, higher than November’s 64,000.

Meanwhile, the unemployment rate is expected to fall to 4.5%, lower than 4.6% in November. The CPI inflation report will also be released on January 13, followed by PPI data the next day. Lower than expected inflation readings will strengthen the case for further rate cuts, which will be positive for the market.

Conclusion

Recent data on jobless claims and crypto market dynamics show the complex relationship between monetary policy, labor market conditions, and investor sentiment in the crypto market. Going forward, market participants will continue to monitor economic data to make informed investment decisions.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

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