Bitcoin’s holding above $61,000 and ether’s above $1,700 as markets shake off recent pressure. Soft US jobs data has cooled fears about another Fed rate hike, and spot ETFs just snapped a 10-day outflow streak.
The June jobs report came in weaker than expected, giving the Fed less reason to keep tightening. Markets are pricing that in — crypto’s been the main beneficiary so far today.
“Markets find their footing” is how one analyst put it. After weeks of selling pressure, the macro picture’s shifting. Lower rate expectations tend to boost risk assets, and crypto’s been following that pattern.
US Independence Day weekend could mean lower volume, but the trend’s been positive since the jobs data dropped. Bitcoin bounced from recent lows near $58K and hasn’t looked back.
ETF flows tell part of the story. After 10 straight days of outflows, spot Bitcoin ETFs saw net positive flows yesterday. That’s the kind of signal traders watch for — when institutional money stops leaving, the floor might be in.
