A disappointing June jobs report has become the focal point for Bitcoin traders betting on imminent Federal Reserve rate cuts. Nonfarm payrolls rose by just 57,000, sharply below the 110,000 economists expected. The Bureau of Labor Statistics also revised the prior two months downward by a combined 74,000, cutting April by 31,000 and May by 43,000. Despite the soft hiring figures, unemployment ticked down to 4.2%, and wage growth held steady at 3.5%. Traders interpreted the miss as a potential catalyst that could push the Fed toward easing monetary policy, which historically tends to benefit risk assets like Bitcoin. However, the durability of any Bitcoin rally depends on whether the central bank views the weak payrolls as sufficient justification to lower rates, or weighs the still-low unemployment rate and stable wages as reasons for caution.
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