U.S. June Jobs Report Exceeds Expectations
The U.S. labor market demonstrated unexpected strength in June, adding 147,000 jobs—surpassing economist forecasts of 110,000. Key highlights from the Bureau of Labor Statistics report:
- Unemployment rate: Fell to 4.1% (vs. 4.3% expected).
- Hourly earnings: Rose 0.2% monthly (3.7% year-over-year).
- Stock futures: Nasdaq 100 and S&P 500 each gained 0.3% post-report.
The robust data reinforces Federal Reserve Chair Jerome Powell’s stance against immediate rate cuts, despite political pressure.
Bitcoin’s Reaction to Macroeconomic Signals
Following the jobs report:
- BTC price: Briefly dipped below $109,000** after nearing **$110,000 earlier in the day.
- Market sentiment: Traders now assign a 95% probability of the Fed holding rates steady in July (per CME FedWatch).
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Key takeaway: Bitcoin’s short-term volatility reflects sensitivity to macroeconomic indicators, though its long-term uptrend remains intact.
FAQ Section
Q: How does strong jobs data affect Bitcoin?
A: Positive economic reports often reduce expectations for Fed rate cuts, strengthening the dollar and temporarily pressuring BTC.
Q: Will the Fed cut rates in 2025?
A: Markets currently price a 78% chance of a September cut, but July appears unlikely.
Q: What’s next for BTC price?
A: Watch for support near $108K–$109K; a rebound could target $112K resistance.
Market Dynamics and Fed Policy
- 10-year Treasury yield: Jumped 9 bps to 4.36% post-report.
- Fed outlook: Powell emphasizes patience, contrasting with calls for aggressive cuts.
Analyst insight:
“Bitcoin’s correlation with macro data underscores its maturation as a risk asset,” notes James Van Straten, CoinDesk Senior Analyst.
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Authors:
- James Van Straten: Specializes in BTC macro analysis. Holds BTC and MSTR.
- Stephen Alpher: Manages Markets coverage at CoinDesk.
Last updated: July 3, 2025
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