Bitcoin’s value took a hit as it slid below $54,000 following the release of weak US jobs data and concerns over a potential large rate cut by the Federal Reserve. The digital currency’s price dropped in response to the disappointing employment numbers and fears of a significant reduction in interest rates by the Fed. Investors reacted to the news by selling off their Bitcoin holdings, causing the price to fall below the $54,000 mark. The market is closely monitoring the situation as uncertainty looms over the future of Bitcoin amid economic uncertainties.