U.S. employment data for December was mixed, while inflation forecasts rose, and the Supreme Court did not rule on the Trump administration’s tariffs.

Bitcoin prices fell from $92,000 to $90,463.00 after a brief rally in the US mid-morning session. Bitcoin is trading around $90,300 only 60 minutes before the US stock market shuts on Friday, down roughly 1% in the previous 24 hours.

As has been the case in recent weeks, bitcoin is struggling to gain ground as the prices of most other assets have increased. The Nasdaq is up 1%, while the S&P 500 is up 0.8%. Precious metals and crude oil are soaring across the board, while the bond market is slightly ahead.

On the news front, Friday’s US December employment report was mixed, with job increases of only 50,000 last month and significant downward revisions to previous months. Economists predicted that 60,000 jobs will be added. However, the jobless rate declined to 4.4%, down from 4.6% in November. Expectations had been for just a slight decrease to 4.5%.

The University of Michigan Sentiment Index rose to 54 in January, compared to 53.5 and 52.9 in December. The closely regarded one-year inflation expectations increased to 4.2% from 4.1%. This metric, however, remains extremely sensitive to party affiliation, with Democrats predicting 5% inflation and Republicans only 1%.

Finally, the Supreme Court’s ruling on the constitutionality of the Trump administration’s tariff policy will have to wait. Watchers had expected a verdict on Friday morning, but the tariff case result was not among those released by the court. More case rulings from the US Supreme Court are likely next Wednesday.

Crypto-related equities are generally down, with Coinbase (COIN) down 2.3%, Gemini (GEMI) down 4.5%, and Strategy (MSTR) down 5.6%. Bitcoin miners that have switched to AI infrastructure are seeing some benefits, with Hut 8 (HUT), IREN (IREN), and Core Scientific (CORZ) all up by 2% to 4%.