Weak U.S. Jobs Data and Stable Oil Prices Support Bitcoin Rally on July 5

According to a Jangle research report on July 5, weak U.S. June employment data and stable oil prices are supporting crypto asset risk appetite. U.S. non-farm payrolls rose by 57,000 in June, well below the expected 110,000, while the unemployment rate fell to 4.2% and wage growth remained at 0.3% month-over-month as expected. WTI crude oil closed at $68.69 per barrel and Brent at $71.80 per barrel, signaling relief from inflation concerns.

Researcher Kim Jun-sung noted that the market interpreted slowing employment as labor market cooling rather than economic weakness, causing expectations for further Federal Reserve rate hikes to recede and reducing dollar and interest rate pressures. The lower discount rate burden supported Bitcoin's rebound and triggered a broader risk-on sentiment shift that extended to Ethereum and select altcoins.