Listen everyone, that big Friday bounce is starting to look like a classic relief rally.
After Bitcoin bounced from around $60K to nearly $72K, the market couldn’t hold the follow-through. Now BTC is back below $66,000, and majors are sliding again with it.
What changed? The macro tape got tighter.
The U.S. just printed a stronger-than-expected January jobs report (130K) and unemployment dipped to 4.3%, which instantly cooled rate-cut hopes. When cuts get pushed out, liquidity expectations tighten and crypto usually feels that first.
The bigger signal is positioning: leverage is leaving the building.
CoinGlass data cited in market coverage shows BTC perp open interest is way down from its Oct 2025 peak, which basically means traders are de-risking and conviction is fading. That’s not bullish momentum that’s a market trying to survive.
Meanwhile, the attention is rotating elsewhere. Stocks are holding up better, metals are catching bids again, and crypto is struggling to stay “interesting” for allocators. That’s the real problem in bear phases not just price going down, but people walking away.
Even crypto-related stocks are getting hit as risk appetite drains, adding another layer of pressure across the whole sector.
Bottom line: Friday’s bounce didn’t flip the trend. Until BTC can reclaim key levels and hold them, this is still a market where rallies get sold and patience wins.
Not financial advice.
#USNFPBlowout #USRetailSalesMissForecast #USTechFundFlows #WhaleDeRiskETH #WhaleDeRiskETH
