Bitcoin tops $65,000 after ‘massive surprise' US jobs miss

Bitcoin climbed back above $65,000 after a sharply weaker-than-expected U.S. July jobs report, which showed payrolls down 23,000 versus forecasts for an 80,000 gain and downward revisions to June. The data eased fears of a September Fed rate hike, boosting risk sentiment and helping bitcoin recover after briefly dipping below $65,000. Analysts said the move also pressured the dollar and supported precious metals, while highlighting that the unemployment rate’s decline to 4.1% was driven by lower labor force participation rather than stronger hiring. Commentary in the article suggests bitcoin may retest $66,000 near term, with some strategists seeing medium-term support from easier policy conditions, though volatility and upcoming inflation/Fed signals could limit the rally. Ether also showed relative strength, with analysts pointing to stronger performance, ETF inflows, and a possible reclaim of $2,000 resistance.