Bitcoin is trading at $64,938, up 1.06% on the day, but remains below both its short-term and long-term moving averages. The U.S. economy shed 23,000 jobs in July, a sharp miss compared to the 95,000 gains economists had expected, marking the first net loss since the post-pandemic recovery. Markets now price in a 40% probability of a September rate hike, down from 55% the day before, according to CME FedWatch. On the technical front, BTC displays a death cross with the 50-day moving average below the 200-day moving average, while the RSI at 54.6 signals neutral momentum. A sustained break below $60,000 would confirm a resumption of the spring downtrend.
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