Bitcoin Surges on Market Weakness

🟠Bitcoin soared to $109,000 following an unexpected drop in U.S. employment. According to ADP data, the private sector added 33,000 fewer jobs than expected in June — the weakest result since March 2023. This has fueled expectations of an imminent Fed rate cut, a move that typically boosts risk assets, including cryptocurrencies.

🟠The market responded with a wave of short liquidations, adding upward pressure. Analysts describe the move as a “liquidity grab,” and traders are anticipating further gains. Political pressure on the Fed and weak economic data may accelerate monetary easing, reinforcing bullish sentiment in the crypto market.