US Jobs Shortfall Sends Bitcoin to $65,200 as Rate Hike Odds Diminish
Bitcoin briefly surged above $65,000 on August 7, 2026, after the US Bureau of Labor Statistics reported weaker-than-expected employment figures. The nonfarm payroll employment change was lower than expected at -23,000 positions in July, compared to the consensus forecast of approximately 80,000 added jobs.
The unemployment rate edged down to 4.1 percent from 4.2 percent, but this decline largely reflected a contraction in the labor force and lower participation rather than stronger employment gains. Average hourly earnings rose only modestly, with year-over-year wage growth slowing to 3.2 percent.
Market participants quickly interpreted the data as diminishing the odds of a Federal Reserve rate increase in September. Expectations for a hold rose as traders recalibrated policy outlooks in response to the weaker hiring backdrop.