Weak jobs report kills rate-hike fears — crypto relief rally is just getting started
A terrible June jobs report means the Fed is much less likely to raise interest rates. That sudden shift is fueling a massive crypto relief rally as big money floods back into bitcoin ETFs, creating a cycle where rising prices force skeptics to buy back in.
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The June jobs report showed only 57,000 new positions, dramatically missing expectations and cooling fears of a Fed rate hike. According to the CoinDesk article, this macro shift sparked a relief rally that pushed Bitcoin toward $62,000 as bearish traders were squeezed out. This combination is powerful because the weak jobs data didn't just spark a price bounce — it triggered a structural shift in institutional flows, with The Block reporting a massive $222 million flowing back into U.S. bitcoin ETFs after a 10-day drought. When falling rate expectations and fresh institutional inflows align, crypto momentum usually extends for weeks as short-sellers are forced to cover.