Coinbase Institutional said weaker-than-expected U.S. nonfarm payrolls did not ease market concerns, as escalating conflict in the Middle East pushed inflation risk back into focus. The market is now shifting toward pricing in higher rates for longer, with financial conditions tightening and long-duration risk assets coming under pressure. The firm also said the probability of another rate hike this year is rising. Even with those headwinds, BTC fell only about 2%, a relatively resilient move that Coinbase Institutional said may suggest the market is going through a bottoming process. The view links macro pressure, inflation concerns, and rate expectations to crypto price action, while pointing to Bitcoin’s limited decline as a sign of relative strength under stress.
Coinbase Institutional said U.S. nonfarm payrolls came in well below expectations, but escalating conflict in the Middle East has put inflation risk back at the center of market attention.
The firm said markets are shifting toward pricing in “higher rates for longer.” Financial conditions are tightening, long-duration risk assets are under pressure, and the odds of another rate hike this year are rising.
Even under those headwinds, BTC fell only about 2%. Coinbase Institutional said that relative resilience may indicate the market is going through a basing process.
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