It’s a good day to be long. Bitcoin topped $62,000 Thursday for the first time in over a week, bouncing back from a 21-month low under $58,000. At $61,808, BTC is up about 3% on the day and 4% for the week.
Ethereum and Solana both jumped nearly 5%. Solana’s the real standout — it’s up more than 22% over the last week, hitting around $81. XRP’s sitting at $1.09, up over 3%.
The rally squeezed shorts hard. Crypto liquidations hit $602 million in 24 hours, with $400 million of that from short positions alone. Ethereum led the way with $187 million in liquidations, edging out Bitcoin’s $184 million.
What’s driving it? Fed Chair Kevin Warsh wouldn’t commit to rate hikes, and a weak jobs report showed only 57,000 jobs added in June — way below the 115,000 expected. Stocks are mixed, but crypto stocks are green: Strategy (MSTR) up nearly 7% to $100, Coinbase up 3.35%, Circle up almost 5%.
