Bitcoin Plunges Below $90,000 as Weak Jobs Data Hammers Stock Futures

Market Rout: Crypto and Stocks Tumble in Unison

A grim economic report just sent shockwaves through both traditional and digital asset markets. The correlation everyone loves to debate? On full display today.

The Domino Effect

Weak jobs data doesn't just spook the Fed—it triggers a classic risk-off cascade. Money flees equities, and, for now, it's fleeing Bitcoin too. The narrative of crypto as an uncorrelated safe haven takes a hit, proving once again that in a liquidity crunch, almost everything gets sold. Even the supposed digital gold.

Not a Crypto-Specific Problem

Let's be clear: this isn't a story of blockchain failure or a crypto black swan. This is macro. The same fear gripping Wall Street is gripping Satoshi Street. It's a reminder that while the technology is decentralized, the capital flowing into it often comes from the same centralized, nervous pools watching every jobs report and Fed whisper.

The Silver Lining for Believers

For the long-term bull, this is a feature, not a bug. Sharp pullbacks have always been part of Bitcoin's DNA—volatility is the price of admission for asymmetric returns. These moments flush out leverage and weak hands, building a stronger foundation for the next leg up. Remember, the traditional system's fragility is the very thesis for decentralized assets. A little old-fashioned economic anxiety just makes the case for them.

The Bottom Line

Today's action is a brutal, real-time lesson in global liquidity. When the tide of easy money recedes, you see what's really swimming naked—sometimes it's over-leveraged crypto traders, and sometimes it's entire economies propped up by, you guessed it, more debt and creative accounting. The dip is painful, but for those who see the bigger picture, it's just another chapter in the slow, messy transfer of trust from institutions to algorithms.

TLDR

• Bitcoin dropped below $90,000 on Thursday after falling 2% in 24 hours, though it remains up 3% for the week
• U.S. spot bitcoin ETFs recorded $486 million in outflows across two consecutive days, the first back-to-back losses of 2025
• Stock market futures declined Thursday morning with Dow and S&P 500 futures down 0.3% and Nasdaq 100 futures falling 0.6%
• Weak economic data showed private-sector payrolls increased by only 41,000 in December, below the 50,000 estimate, pushing Treasury yields lower
• The Federal Reserve rate cut expectations influenced both crypto and stock markets, with traders pricing in at least two quarter-point cuts by year-end

Bitcoin trading fell under the $90,000 mark on Thursday as the cryptocurrency market cooled from its early January gains. The decline came as both crypto and traditional markets reacted to weaker economic indicators.

The leading cryptocurrency dropped approximately 2% over a 24-hour period. Despite the decline, Bitcoin maintained gains of more than 3% for the week.

Ethereum followed a similar pattern, slipping around 3% on Thursday. The second-largest cryptocurrency by market value remained roughly 6% higher over the seven-day period.

U.S. spot Bitcoin exchange-traded funds experienced their first consecutive days of outflows for 2025. The ETFs saw more than $486 million leave the funds across the two-day period.

According to SoSoValue, on Jan. 7 (ET), U.S. spot Bitcoin ETFs recorded total net outflows of $486 million. Spot ethereum ETFs saw net outflows of $98.45 million, XRP spot ETFs recorded net outflows of $40.80 million, while Solana spot ETFs posted net inflows of $1.97 million.… pic.twitter.com/2lQgatvilY

— Wu Blockchain (@WuBlockchain) January 8, 2026

XRP led losses among major cryptocurrencies with a 4.5% drop over 24 hours. However, the token still posted a 17% gain for the week.

Dogecoin maintained the strongest weekly performance among major cryptocurrencies. The meme coin recorded gains exceeding 22% over the seven-day period.

The cryptocurrency market movements tracked shifts in traditional financial markets. Treasury bonds extended gains across the yield curve, with the 10-year Treasury yield declining to around 4.14%.

Private-sector employment data released Wednesday showed weaker than expected growth. ADP Research reported an increase of 41,000 jobs in December, falling short of the median economist estimate of 50,000.

Federal Reserve Rate Cut Expectations Shift Market Sentiment

The weak employment data reinforced expectations that the Federal Reserve may implement rate cuts later in 2025. Rate markets briefly increased bets that the Fed will deliver at least two quarter-point cuts by year-end.

Bond markets across Asia showed similar movements. Australian and New Zealand debt prices ROSE while Japanese bond futures held gains following a 30-year auction.

Easier monetary policy expectations typically support higher-risk assets like cryptocurrencies. Analysts at B2BINPAY described crypto as a risk asset that depends heavily on bitcoin-led sentiment.

Stock market futures declined Thursday morning following a mixed trading session. Dow Jones Industrial Average futures and S&P 500 futures fell 0.3% while Nasdaq 100 futures dropped 0.6%.

During regular trading Wednesday, both the S&P 500 and Dow closed lower despite hitting new intraday highs. The Nasdaq Composite finished modestly higher after Alphabet shares surged more than 2%.

The stock market rally briefly pushed Google’s parent company ahead of Apple in market value. This marked the first time since 2019 that Alphabet exceeded Apple’s valuation.

Recent Market Developments and Economic Indicators

President TRUMP announced that Venezuela will send up to 50 million barrels of crude oil to the United States. The U.S. energy secretary stated that America will control the country’s oil output indefinitely going forward.

Oil prices retreated during day trading following the announcement. Traders continue watching for a Supreme Court decision on the legality of tariffs imposed under Trump, with Friday scheduled as an opinion day.

The December jobs report is due Friday, providing investors with insight into economic health. The report will receive increased scrutiny as one of the larger data releases in a reduced slate of governmental output.

Intel stock surged 6.5% following the announcement of new Core Ultra 3 series chips at CES 2026. The technology convention continues to provide information affecting tech stock valuations, with Thursday’s lineup including U.S. senators speaking on AI legal and funding frameworks.