On June 5th, the US May ADP employment report only added 37,000 jobs, far below the expected 110,000, creating a two-year low and reflecting a slowdown in the labor market. The data shows that companies are reducing hiring due to Trump's policy uncertainty, especially with small and medium-sized enterprises losing job positions.
Although to overall weakness suggests thatdown and potential earlier interest rate cuts. Trump again to rates, the US economy is falling falling behind. Additionally, the FedWatch tool indicates that the market's probability of a September rate cut has risen to 76.4%.
Bitunix analyst recommends:
In the short term, weak data may support BTC's continued rebound, with the market focusing on Friday's non-farm report. If it again shows labor market cooling, it will strengthenforce expectations of rate cuts this year.
Technically, BTC's short-term resistance is at $106,300, and breaking through could challenge $108,500; support is in the range of $104,000–$103,500. Recommended to observe with a slightly bullish approach, waiting for further guidance from the non-farm report.
