Analysis: Bitcoin faces increased downward pressure ahead of non-farm payroll data release, investors are cautiously observing

As Bitcoin and other crypto assets decline, investors are turning cautious ahead of the release of key employment and inflation data in the U.S.

Analysts say the market is in a consolidation phase, waiting for clarity on interest rate policy, while the demand for downside protection in crypto-related stocks like Coinbase and MicroStrategy is rising, reflecting institutions' vigilance towards short-term risks.