Bitcoin Holds Below $65K as Friday Jobs Data Looms
A 9-3 Fed hold with three hawkish dissents reframes this week's labor prints as a referendum on whether the pause was justified, putting the $62,200 floor at risk.
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A 9-3 Fed hold with three hawkish dissents reframes this week's labor prints as a referendum on whether the pause was justified, putting the $62,200 floor at risk.
A weak June payrolls print just gave the Fed a reason to cut, and $222M back into spot BTC ETFs shows institutional buyers read it the same way the bond market did.
Eleven straight days of ETF outflows ended in a single session, and the macro setup behind the reversal is what funds will read next.
A payrolls figure below the 110K consensus would validate Warsh's lower-inflation read, unwind lopsided dollar longs, and hand bitcoin and gold their next leg up.
Strong labor data is tightening every channel crypto needs loose — and Warsh's hawkish first FOMC just put the rate-cut trade on ice through year-end.