In June, the US economy added just 57,000 payrolls, far below the 115,000 expected, which pushed Bitcoin up 4% to near $62,000. Economists now forecast 85,000 to 88,000 jobs for July, nearly double the previous month. If that materializes, it would argue in favor of another rate hike by the Federal Reserve, whose three policymakers already dissented against holding rates steady. Bitcoin has already fallen roughly 3% on July 31, trading near $63,080, while 30-year Treasury yields hit their highest level since 2007. Friday’s report, published five weeks before the Fed’s September 16 policy meeting, will be decisive in shaping rate expectations.
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