Bitcoin holds $64,000 as private hiring drops 53% before today’s macro test that could break support
Bitcoin hovered near $64,000 ahead of the U.S. jobs report, with traders weighing two competing narratives: weaker labor data could boost hopes for interest-rate cuts, but it could also deepen growth fears. ADP said private payrolls rose by 44,000 in July, far below June’s revised 95,000, with gains concentrated in education and health services while several sectors lost jobs. Wage growth for job changers accelerated to 7.0%, complicating the case for easier policy. Treasury yields also edged higher before the official report. The BLS July Employment Situation was due at 8:30 a.m. ET on Aug. 7, with no result yet available at the time cited. Bitcoin’s reaction, alongside moves in yields, the dollar, and broader risk assets, was expected to indicate whether markets viewed the data as rate relief or growth scare.
