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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
07/04/2026

Bitcoin Holds $61K as Soft Jobs Data Eases Fed Rate Fears

What happened: Bitcoin rebounded above $61,000 (session low $57,700) and ether above $1,700 after June U.

Bitcoin Holds $61K as Soft Jobs Data Eases Fed Rate Fears

What happened: Bitcoin rebounded above $61,000 (session low $57,700) and ether above $1,700 after June U.S. nonfarm payrolls came in at 57,000—well below the 115,000 consensus. Unemployment fell to 4.2%, but labor force participation dropped to 61.5%, its lowest since March 2021. The weaker jobs data reduced expectations of further Federal Reserve rate hikes, with odds falling to 77% from 85%. Spot bitcoin ETFs ended a 10-day outflow streak with $224 million in inflows.

Why it matters: The crypto market's sensitivity to macroeconomic data has intensified with greater institutional involvement. While the jobs report was interpreted as dovish, some analysts caution that wage growth and strong consumer spending may keep inflation risks alive. The ETF inflow suggests renewed institutional interest, but the sustainability of this trend remains uncertain, especially with key inflation data and the next FOMC meeting approaching.

Source: The Block