What to know:

You are reading the Crypto Daybook Americas, your daily update on the latest happenings in the cryptocurrency markets and the anticipated events for the day ahead. Subscribe for your morning insights at 7 a.m. ET.

Note: The Crypto Daybook Americas will not be published on July 4 due to the holiday. Happy Independence Day to our U.S. readers!

Bitcoin(BTC) reached $110,000 for the first time since June 11, edging close to its historical high of $112,000 recorded on May 22.

Bitcoin dominance has decreased slightly, landing just above 65%, reflecting its market cap of approximately $2.2 trillion relative to the entire cryptocurrency market.

Today’s highlight is the U.S. jobs report anticipated to show a nonfarm payroll increase of 110,000, marking the least gain in the past four months, with the unemployment rate projected to rise to 4.3% from 4.2%. If accurate, this would represent the highest unemployment rate since October 2021.

The report is released early due to the July 4 holiday, potentially lowering trading volumes. The New York Stock Exchange and Nasdaq will close early at 1 p.m. today, with the bond market following at 2 p.m. The markets will also be closed on Friday, July 4.

In anticipation of the report, there is a 75% chance that the Federal Reserve will maintain interest rates between 4.25% and 4.50% during its upcoming meeting on July 30.

HTX Research noted, “On-chain flows remain stable, suggesting that major players are awaiting further signals from this week’s Non-Farm Payrolls and Initial Jobless Claims data.” They emphasized the importance of labor data in determining market direction.

What to Watch

• Crypto: July 15 marks the launch of Lynq’s real-time, interest-bearing digital asset settlement network, designed for institutions and powered by Avalanche’s layer-1 blockchain.

• Macro: Significant data releases including U.S. employment figures and initial jobless claims expected on July 3.

Token Events

• The community is currently voting on several key proposals, such as reducing quorum thresholds for certain governance votes.

Technical Analysis

• With the Bitcoin price rising past $110K and the cumulative open interest in perpetual contracts breaking out of a descending channel, signs point to potential bullish sentiment in the market.

Stay tuned for further updates as the cryptocurrency landscape continues to evolve.