Bitcoin is hovering around $71,600, so that drop to $70k that everyone is talking about is indeed happening. The upcoming U.S. employment figures are making everyone nervous because they directly influence how the Fed will act regarding interest rates and government bond yields. That’s why we see pressure on Bitcoin.

Amid all this uncertainty, oil prices are rising due to tensions in Iran. Such geopolitical stress always causes some volatility in the broader markets. So, it’s not just crypto under pressure today; everything is moving nervously until we get more clarity.