Bitcoin Closes the Week Higher: US Employment Data Eases Market Concerns

Bitcoin gained 3.2% on a weekly basis, reaching $64,955, following the release of US employment data that came in below expectations. This development weakened expectations that the Fed would raise interest rates in September, providing relief to the cryptocurrency market. Analysts note that Bitcoin has struggled to break through the $62,000-$65,000 range, with these levels holding as resistance. Investors are now focused on upcoming inflation data, which could be decisive for market direction. The weakness in employment data is perceived as a sign of economic slowdown, strengthening the possibility that the central bank may slow the pace of monetary policy tightening. This positively impacted demand for cryptocurrencies, which are considered risky assets. Experts suggest that upcoming inflation figures will be decisive for both Bitcoin and the broader market, and if the data comes in below expectations, the upward trend could continue. However, if resistance levels are not breached, consolidation may persist. This is not investment advice.