The stock market shot up faster than a rocket with a caffeine addiction, all thanks to some shiny new job numbers. Bitcoin? Well, it just sat there, sipping its coffee and barely moved an inch. Classic Bitcoin.
Jobs Report Sparks Stock Frenzy, Bitcoin Just Stays Chill
The good folks at the U.S. Bureau of Labor Statistics released some job data that made Wall Street do a happy dance on Thursday. The economy added a solid 147,000 jobs last month, and the unemployment rate dropped to a cozy 4.1%. Meanwhile, Bitcoin? It barely twitched. But hey, stocks went bananas, especially since the “experts” thought we’d only see 110,000 new jobs and an uptick in unemployment to 4.3%. Guess they were a tad off, eh?
In an odd twist, just the day before, a report from ADP (a New Jersey human resources firm) revealed that the private sector had lost 33,000 jobs. But did the markets freak out? Nah. Maybe that whole “successful trade deal with Vietnam” Trump announced was like a magic spell that made everyone forget about the bad news. Who knows?
But after the government’s sparkling new jobs data hit the streets, optimism was practically oozing from the stock market. The S&P 500, Nasdaq, and Dow all soared by 0.76%, 0.89%, and 0.77% respectively. Bitcoin? It hung out at a chill $109K, giving off “I’m-too-cool-for-this-rally” vibes. It briefly crossed the $110K mark around 10am, like it was trying to pretend to care.
“Hats off to President Trump because this three-legged stool of his has really been powerful…trade, taxes, and regulations together,” said Alfredo Ortiz, CEO of Job Creators Network, during a Thursday morning chat on Fox News. “It’s all about jobs, jobs, jobs.” Meanwhile, Trump was too busy posting videos of Ortiz’s interview on Truth Social. No big deal.
Quick Glance at the Market Metrics
Bitcoin’s price was basically parked between $108,605.80 and $110,541.46 over the last 24 hours. It was hanging out at $109,606.88 during this report, with a teeny-tiny 0.05% bump, according to Coinmarketcap. Over the last week, it’s up 2.12%. Party time!
Trading volume had a little caffeine boost, rising 10% to $55.86 billion. Bitcoin’s market cap grew 2.54% to $2.3 trillion. The whole crypto sector was up by 0.02%, because why not? Bitcoin dominance made a slight move upward, by 0.09%, to a cool 65.34%.
Meanwhile, open futures contracts ticked up by 0.81% to $76.56 billion. And if you’re into liquidation drama, there was $63.17 million in casualties, with the poor bears losing a big chunk of that. Rough day for the pessimists—$48.25 million in short positions wiped off the map, and $14.92 million in long positions also went *poof*.
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2025-07-03 21:33