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Bitcoin sits just below $63,000 as U.S. jobs and token events loom
CoinDesk highlights a busy week for crypto, including U.S. jobs as the biggest macro catalyst and the start of a Bitcoin proposal’s miner-signaling period tied to limiting non-financial data storage.
Bitcoin began the week just under $63,000, with the next major test for digital asset risk sentiment expected to be the upcoming U.S. jobs report, according to CoinDesk. The outlet said hiring data could influence whether the July rebound continues, since a muted rise would be viewed as the best outcome for risk assets like crypto without necessarily pushing the Federal Reserve toward higher interest rates.
Beyond labor data, CoinDesk pointed to U.S. government borrowing plans as another key macro focus for the week. A JPMorgan strategist, Jay Barry, said the Treasury is likely to keep regular debt sales unchanged, and CoinDesk noted that larger-than-expected sales could raise borrowing costs and weigh on crypto.
Crypto-specific catalysts also include trader attention to earnings from Circle, Galaxy, Block, and six bitcoin miners, CoinDesk said. The outlet also flagged a proposal called BIP-110, expected to enter its required miner-signaling period, which would temporarily limit non-financial data stored on the Bitcoin blockchain.
CoinDesk added that the week includes multiple token unlocks and token listing or delisting events across crypto networks and platforms. It cited unlock dates and sizes for several assets, including Succinct on Aug. 5 and Layer One X on Aug. 7, and said Coinbase Prime will delist several tokens on Aug. 7.
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