Bitcoin is moving sideways in the $63,000 range as there are no clear market tailwinds, such as the U.S. virtual asset market structure law (Clarity Act·Crypto Clarity Act) being pushed back to September.
According to CoinMarketCap, a virtual asset market data site, as of 8:30 a.m. on the 7th, the price per bitcoin was $63,408, down 0.19% from 24 hours earlier. At the same time, Ethereum, the leading altcoin (Altcoin·all virtual assets except bitcoin), was $1,884, down 0.26% from the previous day.
For the time being, the virtual asset market is expected to move while watching the macroeconomic environment related to prices and interest rates. On the previous week, the number of new U.S. jobless claims slightly exceeded market expectations. The U.S. Department of Labor said on the 13th that new jobless claims for the previous week were 209,000. That is 7,000 above the expert consensus (202,000).
On news of a slowdown in hiring, the prevailing view is that the Federal Reserve System (Fed) will not raise the benchmark interest rate at the Federal Open Market Committee (FOMC) meeting in September. According to the CME (Chicago Mercantile Exchange) FedWatch, the probability of the Fed holding rates steady in September reflected in the fed funds futures market rose to 67.6% from 59.4% the previous day.