Bitcoin started the week just below $63,000, with Friday’s U.S. jobs report the biggest macro event likely to determine whether the July rebound continues, though developments in Iran may take on greater significance in the coming days.
A muted rise in U.S. hiring could be the best outcome for risk assets like crypto. Such a rise would ease fears of an economic slowdown, but wouldn’t push the Federal Reserve closer to raising interest rates.
IG market analyst Tony Sycamore said a gain of around 88,000 jobs with unemployment unchanged at 4.2% would strike that balance in a “Goldlocks-type print.”
The U.S. government’s borrowing plans are another macro focus. JPMorgan strategist Jay Barry said the Treasury is likely…
