According to @KobeissiLetter, the U.S. June jobs report significantly exceeded expectations, potentially delaying Federal Reserve interest rate cuts and impacting the cryptocurrency market. The economy added 147,000 nonfarm payrolls, surpassing the 110,000 forecast, while the unemployment rate fell to 4.1%, below the expected 4.3%, as reported by the Bureau of Labor Statistics. This strong economic data reinforces the Federal Reserve's patient stance on monetary policy. Consequently, the probability of the Fed holding rates steady in July surged from 75% to 95% following the report, according to CME FedWatch data. In the immediate aftermath, the price of Bitcoin (BTC) experienced a modest dip to just under $109,000, after briefly topping $110,000 for the first time in a month.

According to The Kobeissi Letter, Bitcoin (BTC) traders should focus on two key upcoming events: Federal Reserve Chairman Jerome Powell's congressional testimony and the release of the Core Personal Consumption Expenditures (PCE) price index. While the Fed recently held rates steady and projected weaker growth with higher inflation, traders will be searching Powell's remarks for any dovish hints that could signal future rate cuts and boost risk assets like BTC. Market expectations for rate cuts are divided; Chris Weston of Pepperstone noted that emerging cracks in the labor market could justify a dovish shift, whereas analysts at ING believe inflationary pressures from tariffs may delay significant cuts until a single 50bp move in December. Following the last Fed decision, BTC price was little changed around $104,200. The consensus forecast for the upcoming Core PCE data is a benign 0.1% month-on-month increase, which could strengthen the case for monetary easing.

According to AltcoinGordon on Twitter, Jerome Powell is scheduled to speak later today, with market participants closely watching for any indication of an interest rate cut as previously discussed by Gordon (source: @AltcoinGordon, June 2, 2025). A potential rate decrease could increase liquidity and risk appetite, historically resulting in upward momentum for major cryptocurrencies like Bitcoin and Ethereum due to lower borrowing costs and increased institutional participation. Traders should monitor Powell's statements for signals on monetary policy, as even minor shifts in tone can trigger significant volatility in crypto markets (source: Federal Reserve press releases, historical market response to FOMC decisions).

According to Crypto Rover, the Bank of England has reduced interest rates by 0.25% to 4.5%, which is considered bullish for Bitcoin. Lower interest rates can lead to a weaker pound, potentially increasing investor interest in Bitcoin as an alternative store of value.