Bitcoin Price Holds Steady Near $90,000 as Jobless Claims Data Signals a Cooling Economy
The Bitcoin price has steadied near $90,000, following the release of fresh U.S. labor data that reinforces a familiar theme for 2026: fewer layoffs, fewer hires, and a cooling economy that refuses to crack. According to the Labor Department, initial jobless claims edged up only modestly in the first week of the year, with 208,000 Americans filing for unemployment benefits in the week ended Jan. 3, up from 200,000 a week earlier.
Jobless Claims and Labor Market Resilience
The figure came in below economists’ expectations of 210,000, underscoring the labor market’s resilience even as growth momentum fades. Continuing claims, which track people receiving benefits beyond an initial week, rose to 1.91 million in the week through Dec. 27 from 1.86 million, indicating increasing difficulty in finding new work. Seasonal distortions around the holidays have added volatility to the data, but claims remain near the low end of their range over the past year.
Other indicators paint a less tranquil picture. A report from Challenger, Gray & Christmas showed U.S. employers announced 1.206 million job cuts in 2025, a 58% increase from the prior year and the highest total in five years, driven largely by federal agencies and technology firms restructuring around AI. Hiring plans fell 34% to their lowest level since 2010. Job openings have also thinned, falling to a 14-month low in November, with just 0.91 openings per unemployed worker — the weakest ratio since March 2021.
Federal Reserve Officials Weigh In
Stephen Miran, a senior Federal Reserve official, continued to make the case for additional cuts this year. He hopes that the other officials will agree to 150 basis points cuts to boost the labor market. Miran said, “I’m looking for about a point and a half of cuts. A lot of that is driven by my view of inflation. Underlying inflation is running within the noise of our target, and that’s a good indication of where overall inflation is going to be going in the medium term.”
Miran’s 150 basis point cuts would be bullish for Bitcoin price as it normally does well in an era of easy money. Additionally, the cut will come as the U.S. government delivers further stimulus, particularly in the form of tax refunds. The average tax refund for individuals will be about $3,167, up from $3,138 in 2024. More refunds, tax cuts, and the rising M2 money supply will be bullish for Bitcoin and other altcoins.
Bitcoin Price Technical Analysis
The 12-hour chart shows that Bitcoin price has continued rising in the past few months, moving from a low of $80,590 in November to a high of $94,516. It has now formed an ascending triangle pattern, whose resistance level is at $94,516, and the diagonal trendline connects the lowest swings since November.
Therefore, the most likely BTC price prediction is bullish, with the next key target being at $103,465, the 50% Fibonacci Retracement level. This target is about 15% above the current level. For more information, visit the original source: https://crypto.news/bitcoin-holds-90k-jobless-claims-signal-cooling/
