Bitcoin drops over 5% from its $102,000 peak as strong US job data and Federal Reserve rate projections spook investors, causing a market downturn.Bitcoin fell sharply from its $102,000 high as strong US job data and Federal Reserve rate projections caused a market downturn, impacting the broader cryptocurrency market.Bitcoin's Sharp DeclineBitcoin, the leading cryptocurrency, experienced a significant drop of over 5% from its recent high of $102,000. This decline was triggered by stronger-than-expected US job data, which spooked investors and led to a broader market downturn.Impact of US Job DataThe US job market showed unexpected strength, with job growth surpassing forecasts. This robust data has led to increased speculation that the Federal Reserve may hold off on rate cuts, as indicated by the CME FedWatch tool, which projects a 95% chance of no rate cuts in January.Broader Crypto Market ReactionThe cryptocurrency market, which had seen an 11% gain in early 2025, is now down over 5%. Major cryptocurrencies like Ethereum, XRP, and Solana also experienced steep declines, reflecting the market's sensitivity to economic indicators and Federal Reserve policies.This market reaction underscores the volatile nature of cryptocurrencies and their susceptibility to macroeconomic factors. Investors are closely watching the Federal Reserve's next moves, as any indication of rate changes could further impact the market. https://redrobot.online/2025/01/bitcoin-retreats-from-102k-high-amid-hot-job-data-and-federal-reserve-projections/