Analysis: Bitcoin declines, US interest rate cuts expected to cool down, affecting demand for risk assets

Golden Finance reported that Bitcoin prices fell on Friday, following the overall decline of risk assets. The expectation of a Fed interest rate cut has weakened, leading to a decrease in investors' risk appetite. Rachael Lucas, a cryptocurrency analyst at BTC Markets, said, "The overall upward trend is still intact, but the momentum has cooled down, and traders are cautious." The newly released employment data from the United States highlights the resilience of the labor market, further strengthening the expectation that the Federal Reserve will remain inactive next week, thereby pushing the MSCI Asia Pacific Index to end its multi day rise and putting pressure on cryptocurrencies.