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- Bitcoin hangs in the balance ⚖️
Bitcoin hangs in the balance ⚖️
The price of Bitcoin hit $110,000 Thursday morning—and wavered on news that the labor market was stronger than expected in June.
Stephen Graves
July 03, 2025
📝 What you need to know
Bitcoin briefly passed $110,000 Thursday morning, only for its upward momentum to stall as a hotter-than-expected jobs report dropped—pointing to a resilient U.S. labor market. That, in turn, dashed hopes of interest rate cuts later this month.
But while lower interest rates typically benefit risk assets like crypto, “Bitcoin will be fine,” analysts argued, pointing to America’s “booming economy and markets, large peacetime budget deficits, and ongoing political pressure on the central bank.”
The growing number of firms pursuing a Bitcoin treasury strategy had better hope Bitcoin’s price holds up. Experts cautioned that many firms are “issuing new shares or increasing debt to fund Bitcoin purchases without solid financial foundations," creating "systemic risk" should the price of Bitcoin tumble.
📊 Myriad Market of the Day
💬 Quote of the Day
"Companies are issuing new shares or increasing debt to fund Bitcoin purchases without solid financial foundations. This creates systemic risk."
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