Bitcoin, Ethereum Lift on US Jobs Data; Crypto Forecast (Aug 10–14)
A weaker-than-expected US jobs report (July payrolls -23K vs +85K expected) sparked renewed Fed rate-cut hopes. The US dollar fell, gold and silver posted their best week since January, and risk assets saw a bid, including Bitcoin and Ethereum.
This NordFX crypto forecast for Aug 10–14, 2026 highlights the key macro catalysts: US CPI on Wednesday and US PPI on Thursday, plus ongoing geopolitical developments around the Strait of Hormuz. These could shift yields, the USD, and crypto liquidity quickly.
Market levels cited in the report:
- BTC (Bitcoin): base case 65,029; range 60,500–68,000
- ETH (Ethereum): base case 1,916; range 1,700–2,050
The immediate trading implication is that Bitcoin is likely to remain sensitive to CPI/PPI-driven rate expectations and USD moves. If inflation prints support faster cuts, the upside scenario strengthens; hotter inflation could pressure the bid. In the near term, traders may watch how CPI/PPI revisions change “Fed cuts” pricing and whether BTC holds the stated 60,500 support zone.
Overall, the news framing is bullish-leaning for Bitcoin, as the initial jobs shock already improved sentiment and positioned crypto to react to the next major inflation data.
Bullish
The article’s setup is bullish because a US jobs miss (-23K vs +85K expected) generally reduces growth and wage pressures, which increases the probability of Fed rate cuts. That combination tends to weaken the USD and support duration-sensitive and risk assets—exactly the mechanism cited: dollar down, gold/silver strong, and fresh bids in Bitcoin and Ethereum.
In the short term, CPI (Wednesday) and PPI (Thursday) are the swing factors. Historically, when inflation prints ease or show a clear deceleration, crypto often benefits as rate-cut expectations intensify, driving BTC back toward the upper end of forecast ranges. Conversely, a hotter CPI/PPI usually strengthens the USD and yields, which can quickly flip the market from bid to consolidation.
For the long term, the key is whether the “rate-cut” narrative persists beyond one data point. If subsequent inflation data confirms disinflation, the macro backdrop can remain supportive for crypto liquidity and risk appetite. If not, the market may mean-revert toward more range-bound trading even if the initial jobs shock was positive for sentiment.