Morning Minute: Crypto Surges Over Holiday Weekend
Summary
Crypto rallied sharply over the July 4 holiday weekend while US markets were closed, with Bitcoin back above $63,000 and up 5% on the week. Altcoins outperformed: LIT jumped 44% after Robinhood integration, and the CMC20 index rose about 9%. Two drivers powered the move: a weaker-than-expected June jobs report reduced rate-hike fears, and ETF flows turned positive after a heavy June outflow. Spot Bitcoin ETFs posted $223.5 million in net inflows on July 2, while ETH ETFs saw two straight green days. The bounce came after Bitcoin hit a 21-month low near $57,950. Whale accumulation had already been strong, but the return of positive ETF flows was the key bullish signal. Related names also rebounded, with STRC up 21% and MSTR up 21%.
