US unemployment rates have risen to 4.1%, the highest since December 2021, potentially boosting Bitcoin and other risk assets. Despite 206,000 jobs added in June, the labor market is weakening, which could drive Bitcoin prices up as investors seek alternatives in anticipation of a looser monetary policy. However, Bitcoin's price has been in a downtrend for over a month, falling below $60,000. Bitcoin ETF flows could see an uptick if the weakening labor market drives expectations of an interest rate cut, enhancing Bitcoin's appeal as an inflation hedge.