The U.S. labor market surprised to the downside in February, with 92,000 jobs lost and unemployment rising to 4.4%

Bitcoin continued to face selling pressure following the latest U.S. labor market data, even as the weaker figures revived expectations that the Federal Reserve could begin lowering interest rates in the first half of 2026.

The U.S. employment picture deteriorated in February, according to a report released Friday by the U.S. Bureau of Labor Statistics. The economy unexpectedly lost 92,000 jobs during the month, sharply missing economists’ expectations for a gain of 59,000 positions and reversing January’s increase of 126,000 jobs.

At the same time, the unemployment rate edged up to 4.4%, slightly above forecasts of 4.3% and higher than January’s 4.3% level.

Before the report was published, bitcoin had already been under pressure, sliding toward the $70,000 level overnight as oil prices surged and equity markets weakened. Following the data release, Bitcoin remained near that range, trading around $67,300.

U.S. stock futures also moved lower after the report. Futures tied to the Nasdaq Composite were down roughly 1%, while S&P 500 futures slipped about 0.8%. Meanwhile, the yield on the 10-year U.S. Treasury note dropped four basis points to 4.11%.

In commodities markets, precious metals rebounded from earlier declines. Gold rose about 1% and Silver climbed 2%. Energy prices also moved sharply higher, with West Texas Intermediate crude oil surging 6.2% to around $86 per barrel.

Prior to the release of the employment figures, markets were pricing in a 95% probability that the Federal Reserve would keep rates unchanged at its March 18 policy meeting, and an 85% chance that policymakers would also hold rates steady in April.

However, rising oil prices tied to escalating tensions in the Middle East could complicate the inflation outlook. Sustained gains in energy costs may push inflation expectations higher, particularly through fuel and food prices. Combined with indications that the U.S. economy may be regaining momentum, this could lead investors to reassess the expected path of monetary policy.

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