Bitcoin has recovered toward the $61,500-62,000 area after yesterday's weaker than expected U.S. employment report reduced pressure from the Federal Reserve. June Nonfarm Payrolls increased by only 57,000, while previous months were revised lower, reinforcing expectations that U.S. monetary policy could become less restrictive later this year.
Although the unemployment rate declined to 4.2%, markets focused on slowing hiring and softer labor market momentum, helping improve sentiment across risk assets, including cryptocurrencies.
ETF flows remain in focus
Institutional demand continues to be the key fundamental driver. Spot Bitcoin ETFs have recently shown more balanced flows after the heavy outflows that dominated the previous weeks, reducing one of the largest sources of selling pressure. At the same time, long-term corporate holders continue to maintain sizeable Bitcoin positions, suggesting that strategic demand remains intact despite elevated market volatility. Investors are now watching whether improving macro conditions can translate into renewed ETF inflows.
Macro outlook becomes more supportive
The weaker U.S. labor data has increased expectations that Treasury yields could remain under pressure if inflation continues to moderate. That creates a more constructive backdrop for digital assets, which have struggled during the period of elevated interest rates. Even so, traders remain cautious ahead of upcoming U.S. inflation data and additional Federal Reserve commentary, both of which could quickly reshape expectations for monetary policy.
Technical picture points to recovery attempt
The 4-hour chart shows Bitcoin rebounding from the $58,000-59,000 support area and climbing back above its short-term moving averages. Price is now testing resistance around $61,500-62,000, where the 100-period moving average is beginning to cap the advance. A sustained break above this region would expose $63,500-64,000, while failure to overcome resistance could trigger another pullback toward $60,000 and $58,500.
Outlook
The short-term tone has improved following the softer U.S. jobs report, but Bitcoin still trades within a broader corrective structure below its major moving averages. As is written in Bitcoin stabilizes near key support as macro outlook tempers recovery, a stronger recovery will likely require continued improvement in ETF demand together with additional evidence that the U.S. economy is slowing enough to support a more accommodative Fed outlook without triggering broader risk aversion.
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
