Cryptocurrencies surge as U.S. jobs report shows 23,000 job losses in July, falling short of economist expectations.
Bitcoin (BTC-USD) climbed to $65,143.87 by 9:02 a.m. ET on August 7, 2026, recovering from an opening price of $64,259.68. Ethereum (ETH-USD) rose to $1,929.36 after opening at $1,902.20. Both assets gained following a weaker-than-expected U.S. jobs report.
The July jobs data showed a loss of 23,000 jobs, missing Bloomberg’s forecast of 80,000 new jobs. The unemployment rate dipped to 4.1%, defying expectations it would hold steady. Bitcoin and Ethereum had opened lower but reversed course after the report’s release.
Bitcoin remains down 44.1% from its price one year ago, while Ethereum is 48.4% lower over the same period. Both assets trade well below their all-time highs of $126,198.07 and $4,953.73, respectively.