Bitcoin Rebounds Above $60k Ahead of US Jobs Data

Bitcoin Rebounds Above $60k Ahead of US Jobs Data

Bitcoin recovered to $60,499.7, a 3% increase, crossing the $60,000 threshold as of 02:03 ET (06:03 GMT) on Thursday. The rally follows a prolonged sell‑off driven by persistent outflows from U.S. spot exchange‑traded funds and a broader weakening of risk appetite. Despite the bounce, the cryptocurrency has recorded a decline of more than 30% in the first six months of 2026, reflecting slowing institutional demand and limited progress on U.S. cryptocurrency legislation.

Traders are focusing on the upcoming June U.S. non‑farm payrolls report for clues about Federal Reserve policy. Market sentiment remains cautious, with participants assessing whether a cooling labor market could revive expectations of Fed interest‑rate cuts. Federal Reserve Chair Kevin Warsh noted that recent comments indicated easing inflation risks but emphasized that the Fed will remain firmly committed to its 2% inflation target and will “disappoint” anyone expecting a loose monetary stance.

Warsh’s stance suggests that lower borrowing costs, which are generally supportive for speculative assets, are unlikely to materialise in the near term. Geopolitical uncertainty surrounding U.S.–Iran negotiations has also weighed on sentiment, adding to the broader macro‑economic headwinds.

Altcoin performance mirrored Bitcoin’s modest recovery. Ethereum rose 2% to $1,626.92, XRP gained 1% to $1.06, Solana jumped 4%, Cardano climbed 2%, and meme token Dogecoin edged up 0.6%.

Overall, digital‑asset markets have increasingly moved in tandem with technology stocks and broader risk assets this year, leaving traders focused on macro‑economic data, central‑bank signals, and capital flows into crypto investment products for directional cues.