Bitcoin Barely Budges as Weak US Jobs Data Cuts Fed Hike Odds to 44%

Traders cut the odds of a September Federal Reserve rate hike to 44% on Friday after US non-farm payrolls unexpectedly fell by roughly 23,000 in July, all while Bitcoin (BTC) rose a very modest 0.7% in the hour after the release, jumping to a local high of $65,300.

Moving on, payrolls were forecast to rise by 83,000, according to the Dow Jones consensus, and the Bureau of Labor Statistics (BLS) published the decline at 8:30 a.m. ET, as per CNBC.

CME Group’s FedWatch tool put the probability of a September move at 44% and October at 58.3% once the numbers landed, and Dow futures climbed close to 200 points as Treasury yields fell.

Bitcoin traded at $64,500 in the 30 minutes before the release and touched $65,300 in the hour that followed, according to data from CoinGecko.