jobs report
Weak Jobs Data Sends Bitcoin Above $65K as Fed Rate Hike Odds Collapse
Bitcoin surged above $65,000 on August 8 as markets responded to a significantly weaker-than-expected U.S. jobs report for July, prompting investors to reassess Federal Reserve rate-hike expectations. The nonfarm payrolls data showed 23,000 jobs lost instead of the 80,000 new positions economists had anticipated, a miss that rippled through risk asset markets and reignited demand...
Here’s What Happened in Crypto Today
Bitcoin surged past $65,000 following a weaker-than-expected July jobs report that dimmed expectations for near-term Federal Reserve rate hikes, while a critical security vulnerability in Coldcard hardware wallets resulted in the theft of $116 million in Bitcoin from over 5,200 users. The crypto market also grappled with ongoing regulatory uncertainty as the Senate postponed a...
Weak Jobs Report Reignites Fed Rate-Cut Bets, Lifting Bitcoin Above $61,800
A weaker-than-expected June jobs report released on July 2 has temporarily reversed weeks of crypto market weakness, sending Bitcoin above $61,800 and Ethereum to $1,731.87 as traders dialed back expectations for near-term Federal Reserve rate hikes. The modest addition of 57,000 new jobs—less than half the anticipated 115,000—has reignited hopes that the Fed may pivot...