Bitcoin Rises on Weaker-than-Expected Jobs Report
Bitcoin's price surged on Friday after a weaker-than-expected July jobs report led to bets that the Federal Reserve might pause its interest rate hikes. The current price of Bitcoin is approximately $64,940 as of August 7, 2026, up about 0.8% over the past 24 hours and roughly 2.8% over the past week.
The July jobs report showed a loss of 23,000 new jobs, contrary to economists' forecasts of around 80,000. This has made it harder for the Fed to justify another rate hike, which would generally be negative for Bitcoin's price. However, lower interest rates are supportive of risk assets like Bitcoin.
Continued inflows into U.S. spot Bitcoin ETFs and steady accumulation by large holders have also contributed to the price increase. Nevertheless, regulatory uncertainty and an ongoing Coldcard hardware-wallet exploit remain headwinds for the cryptocurrency.