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The Bitcoin Bull

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<ul>
 <li>Bitcoin climbed above $65,000 after weak US jobs data shifted Federal Reserve rate expectations.</li>
 <li>US spot Bitcoin ETFs recorded five consecutive days of net inflows.</li>
 <li>BTC must break above $69,000 for stronger confirmation of renewed bullish momentum.</li>
</ul>
<p><a href="https://cryptonewsland.com/btc-drops-toward-63k/" rel="noopener noreferrer nofollow">Bitcoin — BTC</a>, has started August with a stronger push after a rough stretch. BTC climbed above $65,000 as weak US jobs data changed rate expectations. Five straight days of ETF inflows also offered fresh support. Traders now watch whether Bitcoin can break beyond the current range. The latest move does not confirm a major breakout yet. Still, falling job numbers and steady institutional demand have improved the short-term setup. That combination deserves attention across global markets.</p>
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<h2 class="wp-block-heading" id="weak-jobs-data-changes-the-bitcoin-outlook">Weak Jobs Data Changes the Bitcoin Outlook</h2>
<p><a href="https://cryptonewsland.com/bitcoin-completes-multi-year-cup-and-handle-formation/" rel="noopener noreferrer nofollow">Bitcoin reached $65,340</a> on Friday, marking the highest level in August. The move represented a 1.3% daily gain. Bitcoin also held a weekly gain above 3%. The rally followed a disappointing US employment report. The Bureau of Labor Statistics reported a loss of 23,000 jobs during July. Economists had expected an increase of roughly 85,000 jobs.</p>
<p>The result marked the first monthly employment decline since February.The <a href="https://tradingeconomics.com/united-states/unemployment-rate" rel="noopener noreferrer nofollow">unemployment rate</a> also edged lower during July. The rate slipped from 4.2% in June to 4.1%. However, earlier employment figures received significant downward revisions. May and June payrolls fell by 103,000 combined after revisions. Those changes added weight to concerns about a cooling labor market.</p>
<p>Markets quickly adjusted expectations for Federal Reserve policy after the release. <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" rel="noopener noreferrer nofollow">CME FedWatch</a> data showed shifting expectations around the September meeting. Odds of a 0.25% rate hike fell from 55% to roughly 42%. Later, traders favored keeping rates unchanged during September. That shift helped support risk assets across financial markets.</p>
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<h2 class="wp-block-heading" id="bitcoin-etf-inflows-add-more-support">Bitcoin ETF Inflows Add More Support</h2>
<p>ETF demand has provided another positive signal for Bitcoin. US spot Bitcoin ETFs attracted $98.85 million on August 7. That result marked five consecutive days of net inflows. Ethereum ETFs also recorded $49.60 million in daily inflows. Ethereum products extended their own positive streak to four sessions. Strong ETF demand suggests investors continue allocating capital toward crypto markets.</p>
<p>QCP Capital described recent price action as resilient rather than clearly directional. Bitcoin also stayed within a broad $62,000 to $65,000 range. Technical levels now carry greater importance for traders. Analyst Daan Crypto Trades identified major support around $69,000. The Bitcoin Bull Market Support Band also aligns near that region. The Weekly 200 EMA adds another important technical reference.</p>
<p>A sustained move above $69,000 could strengthen the bullish outlook. A push into the $70,000 range would offer further confirmation. For now, Bitcoin faces a clear test above the recent range. ETF inflows and weaker jobs data have improved market sentiment. Still, traders need stronger momentum before declaring a major breakout.</p>

Bitcoin Eyes Higher Levels After Five Days of ETF Inflows and Weak Jobs Data

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