Bitcoin Holds $64K as Crypto Awaits July Jobs Report
Bitcoin is holding just above $64,000 and Ethereum is leading the largest cryptocurrencies higher as traders position for the July United States jobs report, due Friday. After a week of geopolitical headlines and softer private-payroll data, the crypto market is unusually calm — but a single labour-market number could set the tone for the rest of August.
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As of Thursday, Bitcoin was trading around $64,280, up about 0.8% on the day and 3.4% over the week, though still down roughly 27% for the year. Ethereum was the standout among the majors, climbing about 2% to near $1,906 and outperforming Bitcoin as capital rotates toward it — a theme we traced in this week’s Bitcoin and Ethereum deep-dive. The total cryptocurrency market capitalisation sat near $2.28 trillion, with Bitcoin dominance around 56.6% and Ethereum near 10.1%.
| Coin | Price | 7-day change |
|---|---|---|
| Bitcoin (BTC) | ~$64,280 | +3.4% |
| Ethereum (ETH) | ~$1,906 | Leading majors |
| BNB | $609.80 | +3.6% |
| Solana (SOL) | Firm | +5.0% |
| XRP | $1.14 | +1.0% |
Why a Jobs Report Moves Crypto
The US Bureau of Labor Statistics publishes July non-farm payrolls on Friday, and crypto traders are watching closely. Wednesday’s ADP private-payrolls report came in below forecasts, hinting that the labour market may be cooling. That matters because a weaker jobs market raises the odds that the Federal Reserve cuts interest rates, and lower rates tend to push investors toward risk assets such as Bitcoin. A hot report does the opposite: it strengthens the dollar and dents the case for near-term easing.
The backdrop is a moving target. Goldman Sachs recently pushed its Fed rate-cut forecast further out after a run of resilient data, so expectations are finely balanced. A soft July print could revive rate-cut bets and give crypto a tailwind, while an upside surprise could trigger a quick pullback. Either way, Friday’s number is the single biggest scheduled catalyst on the calendar this week.
Geopolitics and the Macro Backdrop
Markets have also taken comfort from easing geopolitical tension. Reports of progress in negotiations over the Strait of Hormuz — and broader de-escalation with Iran — have reduced the risk premium that spiked earlier in the summer, helping oil prices settle and letting risk assets breathe. On the policy front, traders continue to track the CLARITY Act’s uncertain path through the US Senate before its recess, a story we covered in CLARITY Act on a knife-edge. Clearer market-structure rules would remove a long-standing overhang for the industry.
Ethereum and Altcoins Outrun Bitcoin
Beneath the calm surface, the internals favour altcoins. Ethereum is the strongest large cap this week, Solana has led the majors with a roughly 5% weekly gain, and BNB added about 3.6%. Even Hyperliquid, one of the year’s breakout tokens, has doubled year-to-date. When smaller tokens outperform Bitcoin, it often signals rising risk appetite — though it can reverse quickly if the macro mood sours. For a fuller picture of how the majors have traded, see our recent market recap.
What It Means for Israeli Investors
For investors in Israel, US monetary policy is never a distant abstraction. The Bank of Israel typically tracks Federal Reserve moves closely, and a shift in the dollar ripples through the shekel and local risk appetite. Israeli platforms such as Tel Aviv–founded eToro and the veteran broker Bits of Gold give local users direct exposure to Bitcoin and Ethereum, so a jobs-driven swing in Friday’s session will be felt on Israeli screens too. The Bank of Israel is meanwhile advancing its digital-shekel research, and the Israel Securities Authority continues to refine crypto rules — signs that the country’s regulators are treating digital assets as a permanent part of the financial landscape rather than a passing trend.
Under the Surface: ETF and On-Chain Flows
Exchange-traded funds remain a key tell. Spot Ethereum ETFs have drawn steady inflows in recent weeks — on the order of $365 million across a four-week streak — while spot Bitcoin ETFs have seen choppier demand, with modest weekly outflows even as July net flows stayed positive. Regulatory momentum is adding fuel: a new SEC safe-harbor framework has helped power a multi-billion-dollar surge in crypto ETF assets, broadening the on-ramp for institutional money. Persistent ETF inflows tend to cushion pullbacks, which helps explain why Bitcoin has held the $64,000 level through an uncertain macro week — and why every fresh data point, Friday’s jobs report included, is read first through the lens of institutional demand.
The Bottom Line
Crypto enters Friday in a holding pattern: Bitcoin steady near $64,000, Ethereum and the altcoins quietly outperforming, and geopolitical risk fading. The July jobs report is the key variable. A cooler labour market could reignite Fed rate-cut hopes and lift the crypto market; a stronger one could cap the rally. Traders should expect volatility around the release and size their positions accordingly.
For Hebrew-language coverage, visit coindex.co.il. Portuguese readers can find similar analysis at coindice.com.br.
This content is for informational purposes only and does not constitute financial advice.
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