Bitcoin Holds Firm at $65,000 as Weaker Jobs Data Dents Rate Hike Bets

Over the weekend, Bitcoin (BTC) traded around $65,000 as the US jobs report revealed weaker-than-expected numbers.

The lower-than-anticipated nonfarm payrolls (NFP) data led to a decline in rate hike expectations, causing BTC to fluctuate around the $65,000 mark.

Despite the uncertainty, Bitcoin showed resilience, with some analysts pointing to the continued inflows into spot Bitcoin ETFs as a supportive factor for the market.

Rakuten Wallet's report noted that Iran announced an agreement with Oman, but the exclusion of the US and Israel, along with the delayed Clarity Act deliberation, capped upside gains.

The CPI release on August 12 will be closely watched, as it may impact rate hike expectations and subsequently influence BTC prices.