Weak jobs + Fed on hold = Bitcoin's window to $65K — build a crypto position
A terrible jobs report just killed the chance of the Fed raising interest rates anytime soon. With rate-hike fears fading, Bitcoin is already holding above $60K and could push toward $70K as money looks for a new home outside of the cooling stock market.
Idea
June's jobs report was shockingly weak, with only 57,000 jobs added versus the 115,000 expected. This dramatically lowers the odds of the Federal Reserve raising interest rates, which takes pressure off risk assets like cryptocurrency. At the same time, Fed Chair Kevin Warsh's recent comments about inflation easing have already pushed Bitcoin back above $60K. Meanwhile, the chip and AI stocks that have been pulling money away from crypto all quarter are now struggling. With tech weakening and rate-hike fears off the table, capital looks ready to rotate back into Bitcoin, potentially running toward $70K.
What happened since
| Symbol | Dir | T+1 | T+5 | T+20 |
|---|---|---|---|---|
| BTC | LONG | +0.88% ✓ | -0.47% ✗ | — |
Price change since publication · updated Jul 11