Bitcoin Hits $110K Ahead of Key US Jobs Report; Market Eyes Macro Data

Crypto Daybook Americas will remain unpublished this Friday, July 4, in observance of US Independence Day, with regular coverage resuming Monday.

Market Highlights:
- Bitcoin (BTC) surged to $110,000, marking its highest level since June 11 and approaching its May 22 all-time high of $112,000
- BTC's market dominance dipped slightly to 65% from June's 66% peak, with its market cap holding at $2.2 trillion

Key Economic Events:
The advanced release of June's US employment data takes center stage today, expected to show:
- Nonfarm payrolls: +110K (vs. May's +139K)
- Unemployment rate: 4.3% (vs. 4.2%)
A weaker report could signal increased likelihood of Fed rate cuts, potentially boosting crypto markets.

Market Context:
HTX Research notes: "On-chain flows indicate institutional players are awaiting labor market signals. The market balances between two scenarios – weaker data could fuel a BTC rally, while strong figures might trigger a correction below $104K."

Upcoming Events:
- July 15: Lynq institutional settlement network launch on Avalanche
- July 9: US Senate hearing on digital asset markets with Ripple, Paradigm executives

Notable DAO Votes:
- Arbitrum: Proposal to reduce governance quorum (closes July 4)
- Compound: Vote to terminate OpenZeppelin partnership (closes July 7)

Token Unlocks (July 11-16):
Over $100M in tokens from Immutable, Aptos, Starknet, Sei, and Arbitrum scheduled for release.