Bitcoin · Federal Reserve (FED) · CryptoSlate
Bitcoin rally hinges on whether the Fed picks up into the weak jobs report after bad miss
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June payrolls missed badly, and traders read it as the rate-cut catalyst Bitcoin needed.
Key facts
- BTC registered an intraday high at $62,056 and traded around the reclaimed $60,000-$61,000 zone, keeping the breakout argument alive without confirming a clean hold above resistance
- He said that Bitcoin priced in the jobs data before the release even landed, retracing to a recent low near $57,000 before breaking through the $60,000-$61,000 resistance zone
- The Bureau of Labor Statistics also cut the prior two months by a combined 74,000, April down 31,000, and May down 43,000
- The next level Mena is watching is $65,000, as a breakout there opens a path toward $75,000 by month-end if the momentum holds
Summary
01 June payrolls rose 57,000 versus 110,000 expected, helping Bitcoin reclaim the $60,000-$61,000 range. 02 The softer print boosts rate-cut hopes, but 4.2% unemployment and 3.5% wage growth give the Fed room to wait. 03 Holiday-thinned trading may magnify Bitcoin’s next move, with $60,000 support and $57,000 downside still in play. The Bureau of Labor Statistics also cut the prior two months by a combined 74,000, April down 31,000, and May down 43,000.