Weak US Jobs Data and Retail Sales Pressure Dollar as Bitcoin Falls Below $70K

Fresh U.S. economic figures point to a mixed outlook for growth and the dollar. Non Farm Employment dropped by 92,000, far below the forecast of 58,000 job gains and reversing the previous 130,000 increase, indicating weakness in hiring. Meanwhile, the unemployment rate rose to 4.4%, slightly above expectations of 4.3%.

Consumer spending also showed signs of softness. Retail Sales declined 0.2% month-over-month, though the drop was slightly smaller than the projected 0.3% fall. Core Retail Sales remained flat at 0.0%, missing forecasts for modest growth.

Wage Growth and Dollar Outlook

Despite weaker employment data, Average Hourly Earnings increased 0.4%, above the 0.3% forecast, highlighting persistent wage pressure that could influence monetary policy and limit sharp dollar declines.

Bitcoin Market Reaction

As economic uncertainty grew, Bitcoin fell below $70,000, losing 3.7% in the past 24 hours. However, underlying demand remains visible, with rising stablecoin inflows to exchanges and renewed positive flows into spot Bitcoin ETFs.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.