Bitcoin climbs above $65,000 on weak US jobs data and regulatory delays

Bitcoin surged past $65,000 on August 7, 2026 after the U.S. Bureau of Labor Statistics reported a weaker‑than‑expected July jobs report, showing a loss of 23,000 jobs and a steady 4.1% unemployment rate. The rally pushed the cryptocurrency to a peak of $65,340 on Bitstamp, its highest level in August.

On‑chain analytics indicated that large holders (whales) continued to accumulate Bitcoin, Ethereum and XRP despite the price move, while many altcoins such as XRP and Solana fell further, highlighting a divergence between Bitcoin and the broader crypto market.

The price rise occurred alongside political developments: the U.S. Senate delayed the CLARITY Act, a bill intended to clarify digital‑asset regulation, until after the August recess, and a major security breach of Coldcard hardware wallets was disclosed, with estimates of over $130 million in Bitcoin stolen.

Market reactions included a $192 million total liquidation in crypto derivatives, a 4% jump in Coinbase Global shares, and fresh inflows of roughly $764 million into Bitcoin ETFs, underscoring continued investor interest despite the regulatory and security headwinds.