BTC retreats toward $70K ahead of key U.S. employment data as oil climbs on Iran-related supply risks

Investors Take Defensive Stance Ahead of U.S. Jobs Report Amid Iran Tensions

Markets are moving cautiously as investors brace for U.S. labor data and rising geopolitical tensions in Iran.

Bitcoin is approaching $70,000 after earlier climbing near $74,000, reflecting broader risk-off sentiment. The U.S. jobs report, due at 13:30 UTC, is expected to show unemployment steady at 4.3% and nonfarm payrolls falling to 59,000—figures that could sway Federal Reserve rate expectations.

WTI crude has surged above $83 per barrel, up over 5% in 24 hours. The U.S. Dollar Index (DXY) strengthened past 99, and the 10-year Treasury yield rose to roughly 4.16%.

Equities are slightly weaker, with the Invesco QQQ ETF down about 0.5% in pre-market trading. Crypto-related stocks including MicroStrategy (MSTR), Coinbase (COIN), and Marathon Digital (MARA) are also trading lower.

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