Bitcoin price taps new July high above $62K on weak US jobs data
Bitcoin climbed above $62,000 at the Wall Street open after weak US jobs data boosted risk assets. BTC hit a July high near $62,137 and was up almost 4% on the day. US nonfarm payrolls rose by only 57,000 in June versus 114,000 expected, while unemployment held at 4.2%, reinforcing signs of a fragile labor market. Traders interpreted the slowdown as a possible reason for the Federal Reserve to ease policy, which could support crypto. Market commentary turned more bullish, with some saying buyers were “back and strong” as order-book demand improved and short liquidations approached $450 million. Analysts suggested Bitcoin may continue rising if it breaks above $65,000, though some still expect only a July relief rally before weaker momentum returns later in the summer.
