Bitcoin steadies near $64,000 as ADP private jobs tumble
Bitcoin held near $64,000 after ADP said U.S. private payrolls rose 44,000 in July, down 53% from June; markets awaited the official July jobs report at 8:30 a.m. ET.
ADP reported that U.S. private employers added 44,000 jobs in July, a 53% decline from a revised 95,000 gain in June. Bitcoin traded around $64,000 as investors awaited the Bureau of Labor Statistics’ official July employment report due at 8:30 a.m. ET.
The ADP gain was concentrated in education and health services, which accounted for roughly 36,000 of the new positions, or about 82% of the total. Overall, private services added 47,000 jobs while goods-producing industries lost 3,000.
Leisure and hospitality cut 11,000 roles in July. Trade, transportation and utilities shed 8,000 jobs, and natural resources and mining employment fell by 6,000.
ADP’s wage measures showed annual pay growth for workers who changed jobs rose to 7.0% in July from 6.6% in June. Wage growth for employees who remained in the same job held at 4.4%.
Short-term and longer-term Treasury yields moved higher on Aug. 6. The two-year yield rose to about 4.25% from 4.18% a day earlier, and the 10-year increased to roughly 4.69% from 4.63%.
Bitcoin was priced near $64,322 at about 2:08 a.m. UTC, with a roughly 0.3% decline over 24 hours. Provisional spot Bitcoin exchange-traded fund flows recorded $9.3 million for Aug. 6; one large ETF entry remained unreported, limiting direct comparison with the $244.4 million inflow recorded on Aug. 5.
The Bureau of Labor Statistics’ Employment Situation report will publish the official payroll, unemployment and average hourly earnings figures for July. As of early Friday UTC, the BLS website still displayed June data and had not posted the July results.
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