Bitcoin Dips 3.1% as Traders Await Key US Data

Edgen Crypto

·Feb 11 2026, 12:17

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Key Takeaways

The cryptocurrency market experienced a broad-based decline, with Bitcoin falling to $66,933, as investors awaited crucial U.S. economic data. The upcoming January jobs report and Consumer Price Index (CPI) reading are viewed as key determinants for the Federal Reserve's future interest rate policy, creating short-term volatility for risk assets like cryptocurrencies.

Bitcoin's price fell 3.1% to $66,933.52, with Ethereum and XRP posting similar declines of 3.2% and 4.1% respectively.
Investors are anticipating the release of the January jobs report and CPI data, which will heavily influence expectations for Federal Reserve rate cuts.
Crypto-linked equities also slid, with Coinbase (COIN) down 3.1% and MicroStrategy (MSTR) declining 2.8% as they tracked the downturn in digital assets.

Bitcoin Leads Crypto Market Down 3.1%

Bitcoin's price fell 3.1% to $66,933.52, pulling the broader cryptocurrency market lower. Major altcoins also retreated, with Ethereum declining 3.2% and XRP dropping 4.1%. The negative price action reflected broader caution among traders ahead of significant economic announcements.

The downturn extended to crypto-related equities. Shares of exchange operator Coinbase Global (COIN) fell 3.1%, while the software company and large Bitcoin holder MicroStrategy (MSTR) saw its stock drop by 2.8%. Separately, Robinhood (HOOD) dipped 6% after its fourth-quarter earnings disappointed investors.

Rate Cut Speculation Intensifies Ahead of Inflation Report

Market participants are closely watching for two key U.S. economic releases: the January jobs report, due Wednesday, and the Consumer Price Index (CPI) reading, scheduled for Friday. Economists surveyed by FactSet anticipate a decline in headline inflation, a development that could reinforce the case for monetary easing by the Federal Reserve.

Lower interest rates typically benefit risk assets like cryptocurrencies by increasing market liquidity and encouraging investment in higher-growth sectors. A weaker inflation reading would likely strengthen expectations for rate cuts.

A lower CPI reading would trigger more doubt on the near-term growth outlook. That will cement expectations the Fed would keep cutting rates.

— Henry Allen, Strategist at Deutsche Bank.