The latest US Nonfarm Payrolls (NFP) report for July 2026 shocked markets, revealing a loss of 23,000 jobs instead of the expected gain of 80,000. The 103,000-job miss immediately slashed the probability of a September Federal Reserve rate hike from 55% to 40%, plunging the US Dollar Index to 99.67 and sending Treasury yields lower. Gold surged 7% to $4,308, while Bitcoin broke back above $65,000 and Ethereum advanced toward $1,930. Crypto analyst Arthur linked the rally to a cascade of macro shifts: a possible Iran deal cooling oil prices, a weakening labor market, and softening inflation all strengthening the case for Fed rate cuts.
Bitcoin’s charts now reflect growing buyer confidence. After reclaiming the $64,000–$65,000 zone, BTC sees a cluster of bullish signals: RSI at 60.25 (buy), MACD at 281.6 (buy), Ultimate Oscillator at 56.00 (buy), and Bull Bear Power at 710.50 (strong buy). A clear breakout above $65,082 would pave the road toward $65,375 and possibly $67,200, but the real test remains at $65,700—a level that has rejected several attempts. Failure to hold $64,800 could expose supports at $64,400 and eventually $63,000.
XRP is attempting to flip $1.03 into support after a 4-hour candle closed above it. Indicators, however, remain bearish: RSI 40.51 (sell), MACD negative 0.012, Ultimate Oscillator 48.02, and Bull Bear Power negative 0.0075. A successful retest could push XRP toward $1.049 or $1.05, while a drop below $1.02 would bring the psychologically important $1.00 level back into play.
Chainlink has consolidated between $8.10 and $8.27 since August 3, with mixed technical signals. RSI at 53.91 is neutral but slightly favors buyers, MACD stays negative at 0.006, Ultimate Oscillator sits at 49.9, and Bull Bear Power registers 0.077 (buy). A move above $8.27 targets $8.37, while a loss of $8.10 could drag LINK down to $7.99.
Despite the green day, QCP Capital cautioned that the rally is primarily liquidity-driven and not yet a confirmed breakout. Geopolitical risks and energy prices still linger. All eyes now turn to the US Consumer Price Index report on August 12—higher inflation could undercut rate-cut hopes, while softer data would likely fuel further crypto gains.
