Key Takeaways:

• Fidelity Digital Assets says Bitcoin is undervalued and the firm holds an optimistic mid-term outlook.

• The JOLTS report shows a sharp drop in open US jobs, raising investors’ hope for Fed interest rate cuts.

According to Fidelity Digital Assets, Bitcoin’s

Bitcoin gets a boost from US JOLTS data

The March 2025 US Job Openings and Labor Turnover Summary (JOLTS) report showed a plunge to 7.19 million from February’s 7.57 million, below the 7.48 million forecast. A lower-than-expected JOLTS number signals a cooling labor market, raising expectations for Federal Reserve rate cuts, which weakens the dollar and lifts risk assets like Bitcoin. 

Conversely, a higher-than-expected figure suggests economic strength, potentially delaying cuts and pressuring crypto prices. With federal layoffs at a 2020 peak, market expectations are leaning slightly dovish.

Economist and Bitcoin commentator Alex Kruger identified the JOLTS data as a short-term win for Bitcoin, as a “risk/gold hybrid” poised to gain from tariff de-escalation after Trump’s 90-day pause (ending July 8). 

In an X post, the analyst predicted that markets may focus on earnings guidance from firms like Caterpillar and tech stocks, while keeping an eye on next week’s Federal Open Market Committee (FOMC) meet, where Powell might signal earlier rate cuts.

Kruger warned of a Q3 economic slowdown where the markets may be volatile, but he also said that Bitcoin’s unique risk-reward would outperform altcoins, which the analyst pointed out as overbought.

Related: Bitcoin 'hot supply’ nears $40B as new investors flood in at $95K

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.