ADP Reports 98,000 Jobs Added in June, Falls Short of 110,000 Consensus; BTC Flat on July 1

According to ADP, private-sector employment grew by just 98,000 in June, missing the 110,000 Dow Jones consensus and declining from 122,000 in May. The report, which covers over 26 million U.S. workers, typically signals Fed rate-cut opportunities. However, the market reaction on July 1 remained muted as Treasury yields moved sharply higher and new Federal Reserve Chair Kevin Warsh maintained a hawkish stance, with markets pricing a 66.3% chance of steady rates at July's Fed meeting versus 33.7% for a hike to 375-400 basis points, per CME FedWatch.

Bitcoin showed no immediate reaction, trading near $58,773, down over 17% in the past month. U.S.-listed spot Bitcoin ETFs recorded $4.5 billion in net outflows during June, their worst month on record, as institutions unwound bets on near-term easing. Ethereum traded near $1,592 while XRP was near $1.05.