World · Market · Global ·
Bitcoin rises to $65,300 as US job losses cool Federal Reserve rate hike expectations
Bitcoin hit month-to-date highs above $65,000 after the US reported 23,000 job losses in July, far below forecasts of 80,000 new jobs. The weak employment report reduced market odds of a Federal Reserve rate hike at September's policy meeting below 50%.
Why it matters for the crypto market
Softer labor data typically reduces near-term inflation concerns and lowers interest-rate expectations, which typically support risk assets including Bitcoin.
Source: coindesk.com
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