Crypto shares dropped in premarket trading. Bit Digital, Canaan, CleanSpark, Inc. slid around 5%; MicroStrategy, Riot Platforms, MARA Holdings fell around 4%.

The price of the world's largest digital coin, Bitcoin, is down 2.33% over the last 24 hours to last trade at $91,699.50.

On Friday, cryptocurrencies were hit by a hotter than expected U.S. jobs report. As crypto prices tend to fall when the prospect of higher interest rates increases, and the jobs report fueled investor fears that the Federal Reserve may keep rates higher for longer, crypto investors felt the pressure.

"The cutting cycle is over," BofA analysts wrote Friday after the December jobs numbers.

The next Federal Open Market Committee (FOMC) meeting takes place on Jan. 28-29 and investors are increasingly confident the central bank will hold interest rates steady.