Bitcoin failed to turn a favorable macro setup into a sustained breakout, even after weaker-than-expected U.S. labor data pushed Treasury yields lower and raised expectations that the Federal Reserve could stay on hold. Decrypt reported that employers cut 23,000 jobs in July, the first net loss since the post-pandemic recovery began, versus economists’ expectation for a 95,000 gain. Despite what would typically support a risk-on move, Bitcoin’s latest daily candle only reached its average price of the past 50 days before slipping back below it. At the time referenced in the report, Bitcoin traded at $64,261, down 0.92% on the day and still below the $64,568 level, while a death cross remained in place. Since peaking near $80,000 in May, BTC has posted lower highs and lower lows. The report highlighted several indicators: RSI at 50, signaling neutral momentum; a Squeeze Momentum Indicator that has been building for 22 days; and ADX at 10.6, showing weak trend conviction even as directional signals lean bearish. Prediction markets tracked by Myriad also reflected a guarded outlook. Odds implied a 64.6% chance of Bitcoin falling to $55,000 next, versus 35.4% for a move to $84,000. August range markets showed stronger concern about a wobble toward $60,000 than a full break below $55,000, leaving Bitcoin stuck between fragile support and unclaimed resistance.

XRP remained one of the weakest major crypto assets as traders continued to focus on the stalled Digital Assets Market Clarity Act in the United States. The bill, if passed, would create a formal legal framework for crypto assets and would matter particularly for XRP because it would classify the token as a digital commodity, removing a layer of regulatory uncertainty that has weighed on institutional demand for years. The Senate did not vote on the legislation before the August recess, reducing hopes for passage this year. Still, Senate Majority Leader John Thune filed cloture late last week, setting up a procedural vote for September 15. The bill needs 60 votes to overcome a filibuster, and with Democrats still holding back, analysts cited in the source described the odds of passage in 2026 as a long shot. Market data in the article showed XRP down 4.96% over the past seven days, the worst performance among the top 10 cryptocurrencies by market capitalization. Over the same period, Solana gained 3.64% and Bitcoin rose 1.17%. The article also pointed to a bearish technical backdrop, including a death cross, an RSI reading of 38.2, and an ADX reading of 14.6, with traders watching support near $1.0128 and resistance around $1.0486.

Bitcoin on-chain analyst Will Clemente argues that Bitcoin now looks "cheap" on a historical basis even though the asset may still see another leg lower later this year. In a long-form market note translated and published by ChainCatcher, Clemente said the past year has been frustrating for Bitcoin holders: spot Bitcoin ETFs hold about $50 billion in assets, access for both retail and institutional buyers is now widely available, yet Bitcoin ETF products still saw $5 billion in net outflows over the past year while DRAM-related products pulled in $10 billion in a single month. Clemente said the Bitcoin network remains structurally healthy despite a decline in total hash rate and a growing shift by listed miners toward AI and high-performance computing. He pointed to broad global node distribution, the network’s difficulty adjustment mechanism, and the fact that hash rate has only fallen back to mid-last-year levels even as many public miners pivot away from core mining. On valuation, he highlighted Bitcoin’s position near its 2021 prior high, slightly below the 200-week EMA, bullish RSI divergence from oversold conditions, and MVRV readings that place the asset near the lower end of its historical valuation band. He also said long-term holders have resumed accumulation after distributing in the second half of 2025. Clemente identified two major overhangs — digital asset treasury companies and quantum computing risk — but said both are starting to show signs of repair. His base case is not that Bitcoin needs a dramatic new catalyst, but that seller exhaustion and steady institutional allocation could matter more over the next several months.

Bitcoin traded at $64,938 after a softer U.S. jobs report pushed Treasury yields lower, knocked the dollar down 0.5%, and trimmed September rate-hike odds to 40% from 55% a day earlier, according to CME FedWatch. But the chart still shows a death cross, with the 50-day EMA below the 200-day EMA and price boxed in below both. The setup leaves $65,000 as the near-term line in the sand, while $60,000 and $58,000 remain key downside levels. On Myriad, traders are still pricing nearly 65% odds that BTC drops to $55,000 before it reaches $84,000.

Bitcoin is holding near $64,700 even as spot U.S. bitcoin ETFs pulled in $754 million during the first week of August and have yet to post an outflow this month. That steady price action is not translating into broad confidence across derivatives markets. CoinGlass data shows put options made up 53.8% of bitcoin options volume over the past 24 hours, with three of the four most-traded contracts tied to $62,000 and $63,000 strikes expiring on Aug. 10, Aug. 14 and Aug. 28. At the same time, call options still account for 60.7% of total open interest, leaving the wider market structurally tilted to the upside while near-term trading leans defensive. Volatility pricing has also collapsed. Deribit’s DVOL index, a measure of expected 30-day bitcoin volatility, is near 35 after reaching 90 earlier this year. Luke Deans, a senior research associate at Bitwise, told CoinDesk that the compression is visible across 30-, 60- and 90-day trading ranges and across options from one week to three months. He warned that quiet trading should not be confused with low risk, especially with U.S. labor data in focus. According to FactSet, economists expect July payrolls to rise by about 97,500 after a 57,000 increase in June, with unemployment seen holding at 4.2%.

Bitcoin and Zcash are sending different signals in an otherwise quiet crypto market. Bitcoin spent the week under pressure from renewed discussion around quantum-computing and AI-related risks, including CNBC host Jim Cramer saying he sold his BTC over quantum fears and a separately disclosed $130 million Coldcard wallet exploit that added a custody concern. At the same time, the Federal Reserve kept rates unchanged at 3.5% to 3.75%, leaving risk assets stuck in a wait-and-see stretch. On the charts, BTC traded between $63,820 and $64,706 and was last at $64,656, up 0.94%, but the setup still looks like a rebound attempt rather than a confirmed reversal. The token remains above its 50-day EMA near $64,200 and below its 200-day EMA near $66,500, keeping a death cross in place. RSI sits at 53.5, while ADX at 14.2 points to weak trend strength. Zcash, by contrast, had a specific catalyst. Its Ironwood upgrade, also known as network upgrade NU6.3, went live on mainnet on July 28 at block 3,428,143 and reworked the network’s privacy backbone after a code vulnerability discovered by AI had already been patched. ZEC fell on the news, then recovered. It now trades at $520.33 with a market cap of about $8.7 billion, up 2.95% on the day and more than 5% over 24 hours, while holding above both its 50-day and 200-day EMAs in a golden cross structure.

Bitcoin swung sharply around the $63,000 level in Foresight’s Aug. 3 market wrap after comments attributed to U.S. President Donald Trump briefly pushed prices higher and a denial from Iran quickly reversed the move. According to the report, Trump said the U.S. and Iran would begin talks on Aug. 3 and claimed there was already an agreement related to the Strait of Hormuz, sending BTC up to $63,700. Iranian officials then rejected the claim, calling it false, and Bitcoin fell back toward $62,200. Foresight said BTC was trading around $62,500-$63,000 at the time of writing, while ETH changed hands near $1,850-$1,870 and failed to reclaim $1,900. SOL was seen around $72-$73 after slipping below $73. The report also pointed to a shift in ETF flows: spot Bitcoin ETFs posted a $61.53 million net outflow last week, ending a three-week inflow streak, while spot Ether ETFs logged a $27.4 million net inflow for a fourth straight week. On the technical side, BTC remained below its 50-day, 100-day and 200-day EMAs at $64,676, $67,205 and $73,001, with $62,200 described as a key near-term support level.

A German court has ruled against AI music startup Suno in a copyright case brought by music rights group GEMA, finding that the company used music from GEMA’s catalog to train its models and reproduced protected works without a license. According to Variety, the Munich Regional Court said commercial use of GEMA’s repertoire by AI companies requires licensing, and that requirement covers both model training and music generation. The case focused on six songs, including “Daddy Cool,” “Rasputin,” “Forever Young,” and “Mambo No. 5.” GEMA argued that Suno trained its AI on copyrighted songs without permission. Suno rejected that view, saying its platform was designed to help users create new music rather than copy existing tracks, and said the ruling rests on a misunderstanding of how its technology works. The company said it is reviewing its legal options, including a possible appeal. The decision came about eight months after GEMA won a separate copyright case against OpenAI over ChatGPT’s reproduction of copyrighted song lyrics. It also lands as Suno faces wider scrutiny over its training data after leaked source code earlier this month pointed to more than 113,000 hours of YouTube Music, 62,000 hours from Pond5, and 12,000 hours from Deezer in its dataset.