Soft U.S. Jobs Report Fuels Rate-Cut Bets; BTC Defends $65,000

U.S. July labor market data came in well below forecasts, reviving expectations that the Federal Reserve could move toward rate cuts. July nonfarm payrolls rose by 23K versus an expected +80K. Revisions to May and June totaled 103K. The unemployment rate edged up to 4.1%. Political noise added to policy uncertainty after Donald Trump again called for the removal of Fed Governor Cook. Despite a cluster of negative catalysts, Bitcoin held the $65,000 level. BTC was last at $65,020, up 0.09% over 24 hours and 2.96% over seven days. The 24-hour range was $64,730–$65,474. Flows remained supportive: BTC recorded roughly $499M in net inflows over the past 24 hours. Spot BTC ETFs posted net inflows for seven straight sessions, pointing to continued institutional accumulation. Sentiment stayed cautious. The Fear & Greed Index stands at 30 (Fear). Gold climbed to $4,400/oz, and risk-off positioning has not yet rotated meaningfully into BTC. Key levels to watch: - BTC support: $64,700–$65,000 - Upside break: $65,500, with $66,200 as the next target - Downside break: $64,000, which would raise pullback risk Ether traded around $1,916. A move above $1,950 could open the door to further upside momentum. Market conditions remain tense as macro headwinds persist, yet BTC has not materially weakened, suggesting bids are absorbing sell pressure. The near-term question is whether $65,000 can shift from support into a durable base for the next leg higher. Risk disclaimer: This material is for market information and data analysis only and does not constitute investment advice.