Usa

A cooling U.S. labor market is creating downward pressure on Bitcoin’s price as investors become more risk-averse. While weak jobs data can initially hurt crypto, it also raises expectations for Federal Reserve rate cuts, which could benefit the market later.

Texas has become the first U.S. state to purchase Bitcoin, investing $10 million via BlackRock’s IBIT ETF to establish a strategic digital reserve. The state plans to eventually move to self-custody, setting a potential precedent for other states.

U.S. Treasury Secretary Scott Bessent made an unannounced visit to the new Pubkey bitcoin bar in Washington D.C., a move seen by the crypto community as a strong signal of long-term support despite market uncertainty and a lack of clear policy on a strategic Bitcoin reserve.