As June wraps up with a modest 2.89% gain for Bitcoin, traders are now shifting their focus to July — a month that could bring big moves for Bitcoin and altcoins. Several key US economic reports are due in the coming days, and each could play a part in shaping where the crypto market heads next.
Let’s break it down!
On July 1, investors will watch the latest Job Openings and Labor Turnover Survey (JOLTS) for clues about how strong the US job market really is. After falling to a low in March, job openings are now forecast to bounce back to around 7.5 million, up from 7.39 million in May.
Many experts believe new tariffs introduced by President Trump have slowed down hiring in some sectors.
If job openings keep dropping instead of rising, it might push the Federal Reserve to consider cutting interest rates — a move that could lift the Bitcoin price.
Next up is the ADP Employment Report, due July 2. In May, private companies only added 37,000 jobs, far less than earlier this year. For June, economists expect that number to improve to about 105,000.
A weaker-than-expected number could hint that businesses are still cautious, which could again push the Fed closer to rate cuts.
The Initial Jobless Claims Report, coming out on July 3, will also be watched closely. Last week’s claims came in lower than expected, but this week they could rise slightly to 239,000.
Higher jobless numbers often show a softer economy — another factor that could weaken the dollar and boost crypto.
Finally, July 3 also brings the Non-Farm Payrolls report and the latest unemployment rate. May month report showed 139,000 new jobs and a 4.2% unemployment rate. For June, economists expect fewer new jobs and a slight uptick in unemployment to 4.3%.
If job growth keeps slowing down, many investors believe Bitcoin could benefit as people look for safe ways to protect their money from a weaker dollar.
As July kicks off, crypto traders know that every data point matters.
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