Bitcoin Price Holds $64,938 as Jobs Miss Cuts Rate-Hike Odds

August 7, 2026 · Markets · CryptoRefuge Team

Bitcoin cleared $64,938 as the latest jobs report missed expectations, cutting rate-hike odds and potentially easing pressure on risk assets.

$64,938 is the current bitcoin price, down 1.06% from its previous close.

Live market snapshot (at publish): BTC $64,893 (+0.3% 24h)

The jobs report showed a significant loss of 23,000 jobs in July, far below the expected gain, and revised the June jobs gain downward. This weaker-than-expected report cut rate-hike odds from 55% to 40%.

40% is the current rate-hike odds, down from 55% prior to the jobs report. The unemployment rate remained steady at 4.1%, but the unexpected jobs loss has raised concerns about the economy.

Treasury yields fell, and the dollar dropped 0.5% in response to the report, which could be a tailwind for risk assets and crypto.

0.5% is the decline in the dollar index following the jobs report. Bitcoin's price has been trading between $58,000 and $66,000, with $66,000 acting as a resistance level and $60,000 as a support level.

The recent death cross, where the 50-day moving average crossed below the 200-day moving average, has not had a significant impact on the price.

$66,000 is the current resistance level for bitcoin, while $60,000 is the support level. The market now looks to the upcoming Fed meeting for further guidance on interest rates. 55K and 84K are the current prediction market targets for bitcoin, indicating a wide range of possible price movements.

Analysis: If the current trend continues, bitcoin's price may break through the $66,000 resistance level, potentially leading to a rally towards the $80,000 mid-May high. However, a break below the $60,000 support level could signal a downturn, with the $58,000 July low acting as a potential target. The upcoming Fed meeting will provide further guidance on interest rates, with a softer Fed path potentially boosting risk assets, including crypto.