Summary
US nonfarm payrolls unexpectedly fell by 23,000 in July, far missing the forecast of 80,000 gain. Bitcoin surged past $65,000 following the data release as traders priced out a September Fed rate hike.
Details
According to The Block, Bitcoin rallied past $65,000 after the jobs data. Analysts note the weak employment figures significantly reduced the probability of a September Fed rate hike, driving capital into risk assets.
Meanwhile, Bitcoin miners MARA and CleanSpark reported double-digit revenue drops as they continue pivoting to AI infrastructure. MARA’s net loss widened to $611.3 million while CleanSpark’s was $239.8 million.
Editor: GoodInfo Global News Team