Bitcoin holds steady near $70K as markets brace for US jobs report

Wednesday 11 February 2026 14:00

Bitcoin is digging in around the $70,000 mark, showing remarkable stability amid broader market jitters. Traders are glued to their screens, waiting for the upcoming US jobs report that could tip the scales. Adding to the intrigue, the Coinbase Premium index has flashed its first positive signal in over a month, hinting at fresh US buying interest.

This tight consolidation isn't random. Bitcoin has been trading in a narrow band near $70,000 for days, a classic setup before major economic data drops. The nonfarm payrolls report, due soon, will shed light on the health of the US labor market—a key driver for Federal Reserve rate decisions. Strong numbers could ease rate cut hopes, pressuring risk assets like BTC; weaker data might fuel bets on looser policy, sparking a rally. Enter the Coinbase Premium, a reliable gauge of US institutional appetite. It measures the price gap between Coinbase trades and global exchanges like Binance. When positive, it signals Americans paying up for BTC, often a precursor to upside. This recent green tick marks the first since mid-January, after a prolonged dip that mirrored price weakness. Analysts see it as evidence that sidelined buyers are returning, potentially setting the stage for a breakout.

The effects ripple wide. Stablecoins and altcoins are mirroring BTC's caution, with low volatility keeping leveraged positions in check. ETF flows remain steady, but any jobs surprise could unleash billions. A bullish print might push BTC toward $75,000 resistance; bearish data opens doors to $65,000 support. Broader equities, sensitive to Fed signals, could amplify moves—think Nasdaq correlations kicking in.

Bitcoin's poise at $70,000 feels like the calm before the storm. With US demand flickering back via Coinbase metrics and macro catalysts looming, the next leg could be explosive. Keep eyes on the jobs print; it might just unlock the breakout everyone's whispering about. Sources: Cointelegraph, CoinDesk, @YieldXYoda, @SeismicCrypto, @RssBit.