U.S. July ADP Jobs Beat Expectations, Bitcoin Slips Below $118K Again
Source Tradingkey
TradingKey – Following the release of stronger-than-expected U.S. employment data, Bitcoin (BTC) dropped nearly 1%, falling below the $118,000 mark once again.
On Wednesday, July 30 (ET), the ADP National Employment Report showed that private-sector jobs increased by 104,000 in July, beating the forecast of 75,000. According to the CME FedWatch Tool, the probability of the Federal Reserve keeping interest rates unchanged in July stands at 97.9%, reinforcing expectations of a steady monetary stance.
Dollar Strengthens, BTC Retreats
- The U.S. Dollar Index (DXY) surged 0.5% intraday, reaching 99.37, its highest level since late June.
- In contrast, Bitcoin slipped to $117,740, reflecting cautious sentiment amid macroeconomic uncertainty.
Bitcoin Price Chart – Source: CoinMarketCap
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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