Bitcoin $BTC today (February 12) continues to show weakness, reported at around $67,500, as the market digests the headwinds brought by strong non-farm payroll expectations for rate cuts; there have been no new meetings recently, but Dallas Fed President Logan just delivered a hawkish speech yesterday.
📉 Bitcoin Market Overview Today
· Instant Price: Approximately $67,402 - $67,506 (down over 1% intraday).
· Liquidation Situation: Over 140,000 people liquidated across the network within 24 hours, totaling $465 million (mainly due to strong long position liquidations).
· Key Trigger: Last night, the U.S. added 130,000 non-farm jobs in January (far exceeding the expected 55,000), which directly weakened the Fed's rate cut expectations and triggered a sell-off in risk assets.
· Market sentiment: Analysts indicate that the decline is steady, not panic-driven, but the order book depth is insufficient. Without new buying pressure, it may further test the $60,000 level; however, institutions believe that $65K remains a crucial support for long-term holders.
🏛️ Recent developments from the Federal Reserve
· Recent meetings: The last one was on January 27-28 (maintaining interest rates at 3.5%-3.75%), the next one is on March 17-18, and there have been no new meeting announcements recently.
· Latest statements from officials: Dallas Fed President Lorie Logan gave a speech yesterday (February 10) with a noticeably hawkish stance:
· It is believed that the current interest rates are close to 'neutral' (neither stimulating nor suppressing the economy), suggesting that no further rate cuts may be needed this year.
· Clearly stated that there is more concern about inflation being stubbornly high rather than a cooling job market.
· Director Miran stated the day before that the impact of tariffs on the economy is 'quite limited', and believes that interest rates need to be cut by more than 100 basis points this year (this is his personal view, contrasting sharply with Logan's).
In summary: Bitcoin is being pressured by macro data in the short term, and although there are internal divergences within the Fed, front-line officials like Logan have publicly warned the market yesterday—don't bet on short-term rate cuts. The two are highly correlated, and liquidity in the crypto space may need to endure further challenges.
