Bitcoin Hits $65,000 as US Job Growth Stalls

Bitcoin surged past the $65,000 mark this week following a surprising report on the United States labor market. Data showed that nonfarm payrolls grew by only 23,000 in July, falling significantly short of the 80,000 figure that economists had originally anticipated.

This slowdown in hiring has caused a major shift in how traders view the Federal Reserve. Market participants are now pricing out the possibility of an interest rate hike in September. When the job market cools, investors often expect the central bank to keep interest rates steady or consider cuts to support the economy.

Lower interest rates typically help risk assets like digital currencies. Traders will now watch upcoming inflation data and statements from central bank officials to confirm if this shift in sentiment will sustain the current momentum for crypto prices.