Shock US Jobs Data Pushes Unemployment to 4.2%, Sending Bitcoin Above $60,000

Key Facts

Reflecting a sharp slowdown in the US labor market, June data revealed that non-farm payrolls grew by a mere 57,000, significantly missing expectations. According to reports, the unemployment rate climbed to 4.2%, intensifying bets that the Federal Reserve must pivot toward rate cuts to stave off recessionary risks. Following the release, the probability of a September rate hike dropped to 54% from a previous 67%.

This domestic weakness coincides with global disinflationary trends, as inflation in France and Germany cooled to 1.8% and 2.3% respectively per market data. According to trading data, the US Dollar Index (DXY) fell 0.56% to 100.83, creating a tailwind for alternative assets. Cryptocurrencies capitalized on this dollar weakness, with Bitcoin clearing the $60,000 mark and attempting to breach the $64,000 resistance level.

Looking ahead, traders are monitoring Bitcoin's stability above new psychological support levels after it reached $60,240 (close July 5, 2026). Focus remains on the upcoming FOMC minutes listed in the economic calendar, as investors seek confirmation of a monetary policy shift. Subsequent inflation prints will be the ultimate catalyst in determining if the Fed initiates an easing cycle in Q3.