Bitcoin Price Rebound Holds Above $61K Ahead of US Holiday
Bitcoin remained above $61,000 on Friday, extending its recovery after weaker-than-expected U.S. jobs data boosted investor confidence.
The latest Bitcoin price rebound came as markets reacted positively to softer labor figures. This reduced fears of aggressive interest rate hikes by the Federal Reserve.
At the same time, Ethereum also gained strength, trading above $1,700 and recovering from recent lows.
Soft US Jobs Data Sparks Relief Rally
US nonfarm payrolls rose by just 57,000 in June — far below the 114,000 forecast. Earlier months were also revised lower. This data cooled expectations for further tightening and boosted risk assets.
Analysts note the report sent mixed signals. While unemployment fell to 4.2%, wage growth accelerated. Markets now see lower odds of a rate hike this month and pushed back expectations for later in the year.
JPMorgan Recommends Larger Cash Reserves
JPMorgan analysts believe Strategy should increase its cash reserves to cover 24 to 36 months of dividend obligations. According to the bank, raising additional funds through equity would reduce the need to sell Bitcoin in the future.
The analysts said stronger reserves would improve investor confidence and help limit concerns about potential Bitcoin sales.
Bitcoin and Ether Show Strong Recovery
Bitcoin bounced from midweek lows near $57,700 and reclaimed the key $60,000 level. Ether performed even better, gaining nearly 10% from its recent lows while comfortably holding above $1,500 support.
The rebound comes just before the US Independence Day holiday, when trading volume is expected to remain thin.
Bitcoin ETFs See First Inflows in Over a Week
US spot Bitcoin ETFs recorded $222–224 million in inflows on Thursday. This ended a 10-day streak of outflows and signals returning buyer interest after heavy redemptions in June.
Long-term holders also continued accumulating Bitcoin quietly during the recent dip.
Options Market Calms Down
Implied volatility dropped sharply after the jobs data. Front-end at-the-money volatility fell from the mid-40s to the high-30s. The options term structure returned to contango, favoring volatility sellers.
Downside protection remains in place but is less expensive than during the peak of the selloff.
Broader Market Reaction
US stocks tried to stabilize while the dollar eased from recent highs. Gold jumped nearly 2%, acting as both a real-rate and safe-haven play. Oil also found support near $70 per barrel.
Analysts say the rebound is positive but needs confirmation from upcoming inflation data (CPI and PPI) before the next FOMC meeting. Volatility is likely to stay two-way during the holiday-shortened week.
What’s Next for Bitcoin?
With rate fears easing temporarily, focus returns to growth and corporate fundamentals. However, persistent inflation could still support a stronger dollar in the longer term.
Bitcoin’s ability to hold above $61,000 into the holiday weekend will be closely watched by traders.
