Weak jobs report kills rate-hike fears — accumulate Bitcoin on the relief rally
Thesis
The U.S. economy only added 57,000 jobs in June, roughly half of what experts expected. According to Bloomberg, this immediately dimmed expectations for future Fed rate hikes, causing bonds to rally. Reuters highlights that this cooling data effectively 'buys the stock market more time' by reducing pressure on the Fed. Because risk assets like Bitcoin thrive when interest rate hike fears fade, Cointelegraph notes Bitcoin has already tapped a new monthly high above $62,000 on this exact news. The combination of a weak labor market and a Fed forced to back off suggests a tailwind for risk assets, making this an opportune moment to ride Bitcoin's relief rally.
Strategy approach
Build a rule-based strategy that enters long BTC-USD on D1 when the most recent U.S. Non-Farm Payrolls release misses consensus by more than 40%, and enter on the daily open following the release. Exit conditions: take profit at 8% gain from entry, stop loss at 5% from entry, max hold 10 days.