Analysis: Bitcoin faces increased downward pressure ahead of non-farm payroll data release, investors remain cautiously on the sidelines

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 institutional vigilance towards short-term risks.