Weak Jobs Data BTC Rally
Lower rate hike odds from weak payroll data will support Bitcoin price recovery above $61,500
Too little corroboration in the last 3 days to call a trend (11 articles). Watching for it to gain traction.
Mainstream financial press is carrying this — attention has broadened beyond specialist outlets.
"Bitcoin climbed to $65,143 on August 7 after the July jobs report printed a loss of 23,000 positions against an expected gain of 80,000. The miss revived rate cut expectations for September, and Bitcoin ETF inflows had already resumed the day before."
"Traders will watch upcoming U.S. inflation and employment releases for further clues about the Fed's path. A softer set of economic figures could revive expectations for lower rates, while continued labor market strength may keep Bitcoin's recovery capped below $65,000."
"The Federal Reserve kept rates at 3.50% to 3.75% in a nine to three vote, and BITCOIN jumped toward $63,000 within minutes as hike fears faded, according to Yahoo Finance."
"BITCOIN tested $66,200 on July 21 after inflation data came in below expectations, easing rate hike pressure, according to The Motley Fool."
"The weak jobs report intensified speculation that the Federal Reserve under new Chair Kevin Warsh will pursue more aggressive rate cuts according to Forbes."
"The rally came after less aggressive jobs data, which alleviated inflation concerns and favored risk demand."
"Bitcoin price climbed on Saturday as weak U.S. jobs data lifted demand for major crypto assets. Analysts say softer rate expectations could help Bitcoin target $70,000 in July."
"Bitcoin jumped to $62,000 after June payrolls missed at just 57,000 jobs, and the bitcoin price prediction debate shifted overnight from crash risk to recovery... cutting odds of another rate hike."
"The June jobs report missed at 57,000 versus 115,000 expected, and BTC jumped above $62,000 on rate cut expectations."
"US spot Bitcoin exchange-traded funds (ETFs) drew their largest daily inflow since May after a weaker-than-expected jobs report eased rate-hike concerns and helped the digital asset recover from a fresh bear-market low earlier in the week."