Weak US Payrolls Propel Bitcoin to $65,340: Fed Outlook and Market Reaction

Bitcoin surged to $65,340 as unexpectedly weak US employment data revived risk‑on sentiment.

Fed’s Hesitation and Market Ripples

CME Group’s FedWatch tool now shows a roughly 70% probability that the September meeting will hold rates steady, down from a 55% chance of a 0.25% hike just a day earlier. This uncertainty sparked short‑term liquidity relief across equities and crypto assets.

Labor Data: Core Revisions Unpacked

■July saw a net loss of 23,000 jobs, with the unemployment rate holding at 4.1%.

■May’s payroll gain was revised down by 66,000 to +63,000.

■June’s figure was trimmed by 37,000 to +20,000.

■Combined, the May‑June revisions leave the total 103,000 jobs lower than initially reported.

Crypto Liquidity: Spot vs. Futures Clash

According to Cointelegraph/TradingView, Bitcoin’s 4‑hour chart posted a 1.3% daily gain, anchoring at $65,340. During the same window, futures volume outpaced spot trading by 8‑fold, underscoring deep market liquidity.

Analyst Takeaways and Strategic Positioning

■Ryan Lee, chief analyst at Bitget Research, warned that these data points will set the tone for both the September FOMC meeting and the August‑end Jackson Hole symposium.

■Fabian Dori, CIO of Sygnum Bank, noted that Fed Chair Kevin Warsh will be closely watching how far payrolls have slipped when shaping policy.

■QCP Capital described the macro backdrop for crypto as “uncertain,” highlighting resilience in price action while noting limited demand for panic‑protective options.

Berk Arıcan – Bitcoin’s current level is buoyed by the soft jobs report, but lingering inflation pressures and the Fed’s potential tightening could reignite volatility. The outsized futures flow suggests short‑term pullbacks are plausible; risk managers should therefore reassess position sizing and hedge exposures.