Crypto
Bitcoin Rises Above $64,984 on Weak US Jobs Data and ETF Inflows
Bitcoin has ended the week on a positive note, despite still facing a crucial test around the $65,000 mark. The cryptocurrency's price has climbed above $64,984, representing a 1.3% increase over the past 24 hours, according to market data.
The sharp slowdown in US labor market data, which showed an unexpected loss of 23,000 jobs in July, has changed expectations around Federal Reserve policy and given risk assets, including Bitcoin, a boost.
Additionally, renewed demand through US spot Bitcoin ETFs has provided another layer of support for the cryptocurrency. Large holders have also been accumulating more than 20,000 BTC, worth roughly $1.2 billion, since late July.