Bitcoin Gains 2.16% as June Jobs Miss and 4.2% Unemployment Ease Fed Fears
BTC•Bitcoin jumped 2.16% after the June nonfarm payrolls report revealed only 57,000 new jobs versus the 115,000 forecast and unemployment eased to 4.2%. The crypto gained alongside US stock futures as investors scaled back expectations for near-term Fed rate hikes.
1. June Jobs Data Undershoots Projections
US nonfarm payrolls rose by just 57,000 in June compared with expectations of 115,000 and May’s 129,000 print. Unemployment fell to 4.2% versus forecasts of 4.3%, leading investors to dial back forecasts for additional Fed rate increases this year.
2. Bitcoin Reacts with Over 2% Rally
Bitcoin surged 2.16% as markets reacted to softer employment data, mirroring gains in Nasdaq-100 and S&P 500 futures. The move highlights renewed risk-appetite and reduced odds of a near-term Federal Reserve tightening cycle.
