According to Cointelegraph, U.S. non-farm payroll data exceeded expectations, and the unemployment rate declined, leading to a rapid pullback in Bitcoin prices. Analysts believe the possibility of the Federal Reserve cutting rates in the July meeting is extremely low.
BTC/USD experienced fluctuations at the Wall Street open on July 3 due to employment data impacting hopes for interest rate cuts. The BTC price briefly approached $110,300.
Non-farm payroll data showed that June job additions exceeded expectations, while the unemployment rate exceeded estimates. The Kobeissi Letter stated that the employment data is 'very hot' and warned that the Federal Reserve may delay interest rate cuts.
Blacknox stated that the decline in the unemployment rate makes a rate cut in July unlikely. The market expects only two rate cuts by December 2025.
Market structure remains stable, with $108,000 becoming a key support level. Master of Crypto stated that as long as it stays above $108K, the target is between $112K and $120K.
