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Why Friday's jobs report matters more than crypto news this week
Audio is available on Spreaker — see link below.
Bitcoin hovers near $64,800 as Friday's jobs report threatens to flip the macro setup — and the CLARITY Act is hours from dying in the Senate. Six stories shaping crypto markets today.
Audio is available on Spreaker — see link below.
Friday's jobs report is the most important event for crypto markets this week. Not the CLARITY Act vote.
Against that macro backdrop, U.S. spot bitcoin ETFs pulled in six hundred and twenty-six million dollars over the past three days. That reverses a recent outflow trend and puts this week on pace for the best ETF performance since early May.
On the regulatory front, the CLARITY Act is effectively down to hours. The Senate goes into recess August tenth, there's no floor vote scheduled, and the bill needs sixty votes it hasn't secured.
While bitcoin has been flat, selective capital is moving. Cardano is up fifteen percent over seven days.
Two other developments worth tracking. Coinbase has launched commission-free U.S. equity trading for eligible UK users, letting them hold stocks and crypto in the same app.
The through-line this week is simple. Bitcoin's near-term direction is a function of macro, not crypto.
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