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Breaking News: Tether Announces Strategic P✅artnership To Combat Stablecoin Misuse
bitcoin

Bitcoin Under Pressure As US Job Growth Slashes Fed Rate Cut Hopes – Is The Rally Over?

Ash Tiwari
by Ash Tiwari
1 week ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin (BTC) recorded s🦄light losses following the release of the US June employment report, which showed unemployment falling to 4.1%, compared to the consensus forecast of 4.3%. The drop in the unemployment rate is likely to prompt the US Federal 🦹Reserve (Fed) to keep interest rates unchanged, a scenario that could weigh on risk-on assets, including cryptocurrencies.

Strong Employment Data May Hurt Bitcoin

The lower-than-expected unemployment rate complicates the Federal Reserve’s policy decisions. This comes amid ongoing pressure from US President Donald Trump to implement rate cuts quickly.
Related Reading: Bitcoin Long-Term Holders Sell🐻ing, But Price Holds – New Buyers Stepping In?

T🔴he robust labor market data, today, highlights continued strength in the US economy, reducing the likelihoo♍d of an imminent rate cut. Notably, nonfarm payrolls (NFP) rose by 147,000 in June, significantly surpassing analysts’ expectations of 118,000 new jobs.

With the unemployment rate falling to its lowest level since February 2025 and NFP growth exceeding f🌱orecasts, the Fed is likely to maintain elevated interest rates for longer to ensure inflation continues to trend downward.

data
Source:

from the Chicago Mercantile Exchange (CME) FedWatch Tool now shows a 95.3% probability that the Fed will hold rat☂es steady at its July 30 meeting. This is substantially up from 75% before the jo♈bs report.

fed
Source:

In a CryptoQuant Quicktake post, contri🌳butor Amr Taha noted that a strong job ma꧑rket could hurt Bitcoin in the near term. He explained:

A r♒esilient jobs market supports a stronger US dollar, since expectations for a delayed or reduced pace of interest rate cuts make the greenback more attractive relative to other currencies. Historically, strong NFP readings and hawkish Fed expectations tend to pressure risk assets, including Bitcoin.

Binance Sees Aggressive BTC Buying Activity

Meanwhile, Taha also highlighted a sharp spike in Binance’s Net Ta꧂ker Volume just before the release of the employment data. The metric surpassed $100 milli⛎on, signaling a surge in aggressive buying activity.

Related Reading: Bitcoin Bubble Chart Signals Coo♓ling Without Overheating – Breakout 🐼Coming Soon?

The jump in Net Taker Volume on Binance reflects strong bullish sentiment among Bitcoin investors and traders. For context, Net Taker Volume measures the difference between aggressive buy and sell orders on an exchange, indicating which side – buyers or sellers – is dominating market activity.

Net taker
Source:

Some analysts believe Bitcoin could see more upside due to its sustained positive price momentum in recent weeks. For example, BTC’s weekly Relative Strength Index (RSI) continues to move toward its upper trendline, a pattern that has historically preceded new all-time highs (ATHs✃🙈).

That said, not everyone shares the bullish view. In a recent post on X, veteran crypto analyst Ali Martinez warned that Bitcoin has flashed a rare bearish signal that could push the price down to $40,000. At press time, B🧸TC trades at $109,114, up 0.6% in the past 24 hours.

bitcoin
Bitcoin trades at $109,114 on the daily chart | Source:
Featured Image from Unsplash.com, charts from CryptoQuant, cmegroup.com, and TradingView.com
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.
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