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The U.S. labor market outperformed expectations in June, adding 147,000 jobs and lowering the unemployment rate to 4.2%. This resilience dashed hopes for an imminent Fed rate cut, impacting Bitcoin’s price movements. Meanwhile, political pressure on the Fed continues to influence crypto markets.
- June's jobs report showed 147,000 nonfarm jobs added, exceeding forecasts and lowering unemployment to 4.2%.
- Traders slashed rate cut expectations to 4.7%, down from 24% a day earlier, impacting crypto markets.
- Political pressure on the Fed and fiscal concerns continue to influence Bitcoin's price, per Grayscale's research head.
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