Bitcoin price still in bargain zone as US jobs report sparks rate cut hopes

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The story "Bitcoin price still in bargain zone as US jobs report sparks rate cut hopes" was covered 15 hours ago by Coin Telegraph, a news publisher based in United States.

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Coin Telegraph 15h ago

Bitcoin price still in bargain zone as US jobs report sparks rate cut hopes - Coin Telegraph

Quick Summary:

Economist and Bitcoin commentator Alex Kruger identified the JOLTS data as a short-term win for Bitcoin, as a “risk/gold hybrid” poised to gain from tariff de-escalation after Trump’s 90-day pause (ending July 8). In an X post, the analyst predicted that markets may focus on earnings guidance from firms like Caterpillar and tech stocks, while keeping an eye on next week’s Federal Open Market Committee (FOMC) meet, where Powell might signal earlier rate cuts.

A lower-than-expected JOLTS number signals a cooling labor market, raising expectations for Federal Reserve rate cuts, which weakens the dollar and lifts risk assets like Bitcoin. Conversely, a higher-than-expected figure suggests economic strength, potentially delaying cuts and pressuring crypto prices.

According to Fidelity Digital Assets, Bitcoin’s (BTC) mid-term outlook dropped to an “optimism” zone, as the investment firm noted that BTC is trending toward “undervaluation.” As proof, the firm cited the ‘Bitcoin Yardstick’ metric, which measures BTC’s market cap divided by its hashrate.