Bitcoin weakens as investors seek safe havens amid softer US economic data

Bitcoin's price is struggling as investors increasingly prefer safe-haven assets in response to sluggish U.S. employment figures and slowing economic growth, according to an analysis by Cointelegraph. The report explains that strong demand for U.S. Treasuries and a decreased likelihood of a Federal Reserve interest rate cut are prompting investors to seek safer options, thereby reducing interest in Bitcoin. Cointelegraph also noted that Japan's economic weakness and the softer U.S. jobs data are contributing to the downward pressure on the cryptocurrency.