Let’s talk about the non-farm payroll data. June’s seasonally adjusted non-farm payrolls came in at 57,000, below the market expectation of 110,000. The unemployment rate dropped to 4.2%, better than the expected 4.3%. Average hourly earnings stayed flat at 0.3% month-over-month as expected, while the year-over-year figure rose from last month’s 3.4% to 3.5%, in line with expectations. #MacroAnalysis #Bitcoin The labor market is showing significant cooling. After the data release, the dollar index dropped. U.S. stocks opened with gains across the board. Even $BTC saw some upward movement, approaching 62. However, this non-farm payroll data itself doesn’t have much impact—the market is more focused on inflation data. Still, seeing non-farm payrolls at just 57,000 and signs of a weakening labor market really gets people thinking. Everyone knows June’s oil prices didn’t go above 90 anymore. If this month’s inflation data looks good, it’ll definitely further reduce market expectations for rate hikes. Instead, people might start expecting rate cuts, which would surely boost sentiment for $BTC. So Q3 is going to be crucial. Looking forward to this month’s inflation data!