Bitcoin must clear $65,000 before Friday, or jobs data could turn $62,000 into a trapdoor to $60,000
Bitcoin is range-bound between about $62,200 and $65,000 ahead of a week of key U.S. labor data. A strong ISM Manufacturing PMI of 55.6, with new orders and employment expanding, reinforced the case that growth is firm and inflation pressures remain sticky. That matters because the Fed’s July hold drew three rare dissents from officials who wanted a hike, so any hot data could strengthen the hawkish case. This week’s main tests are JOLTS, ISM Services, productivity/labor costs, and Friday’s payrolls. Softer openings, weaker services employment, and a payroll report near June’s weak pace would support Bitcoin moving toward $65,000 and possibly $66,900. Strong labor data, firmer wages, and upward revisions would likely push Bitcoin below $62,000, opening a path to $61,200 and then $60,000. Bitcoin is trading mainly on macro and labor expectations, not equities.
