The US economy shed 23,000 jobs in July, while economists had forecast a gain of roughly 80,000, posting the worst labor market print in months. Rate-hike odds for the September FOMC meeting fell sharply, with the federal funds rate held steady in the 3.5%-3.75% range. Technically, Bitcoin displays a death cross, with its 50-day moving average trading below its 200-day moving average, a historically bearish signal. Bitcoin hovers around $60,000, with $65K being the key level to break to invalidate the bearish setup and $60K as critical support.
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