Bitcoin rebounded above $61K after weaker-than-expected U.S. jobs data eased Fed rate hike concerns, lifting overall crypto market sentiment.
Ethereum, Hyperliquid, and Solana led gains, but analysts caution the rally remains a relief bounce as ETF outflows, thin liquidity, and regulatory uncertainty persist.
Key Bitcoin levels remain in focus: $60K–$61K is critical support, while a break above $62.6K could open the path toward $65K.
Crypto markets are holding their footing today after last week's sharp sell-off. Bitcoin trades near $61,390, up 1.28% over the past 24 hours. The move follows a weaker-than-expected June jobs report. Softer payroll data has cooled expectations of a near-term Fed rate hike.
Ether and Hyperliquid are outperforming Bitcoin today, both posting gains above 4%. Traders are rotating back into higher-beta names as risk appetite improves. Still, the CLARITY Act's delayed Senate vote and mixed ETF flows keep this rally on shaky ground. Most desks are treating the move as a relief bounce rather than a confirmed reversal.
Bitcoin is trading at $61,547.78, up 2.41% over the past 24 hours, based on CoinMarketCap data. The token has recovered roughly $3,400 from last week's 21-month low near $58,115, though it remains well below its 52-week high above $126,000.
Giving the market overview, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, "Bitcoin is holding strong above the $61,500 level after weaker-than-expected US jobs data reduced expectations of a near-term rate hike, improving sentiment across risk assets. At the same time, a sell-off in Nasdaq fueled hopes of capital rotation into crypto, contributing to the recovery.
He continued the statement by saying, However, investors must remain cautious. On-chain data shows Bitcoin exchange inflows have climbed above 50,000 BTC per day, along with Ethereum exchange inflows exceeding 1.25 million ETH. Historically, such spikes in exchange deposits have often been followed by increased volatility, including June's decline to $58,000. If Bitcoin loses the $60,000 support, it could retest the realized price near $53,000. On the upside, a decisive break above $62,600 could pave the way for a move toward $65,000."
According to the CoinSwitch Markets Desk, "BTC staged a rebound towards $62K, driven primarily by a short squeeze. Institutional demand remains weak due to persistent ETF outflows, while higher bond yields continue to compete with risk assets.”
They further mentioned that “entering Q3, the market is healthier from a leverage perspective but more susceptible to sharp price swings due to thinner liquidity. The next major directional move will likely depend on macroeconomic conditions and institutional flows."
Meanwhile, Nischal Shetty, founder of WazirX, noted, "Bitcoin recovered above the $60,000 mark as investors responded positively to expectations of a more accommodative monetary policy, while Ethereum ETFs recorded fresh inflows.
He further said, Futures traders are likely watching the $60,000 to $61,000 support zone for Bitcoin, while $63,000 to $64,000 remains the next key resistance. For Ethereum, traders could be tracking $1,650 to $1,680 as immediate support."
Top crypto prices today, based on CoinMarketCap data.
| Name | Price | 24h % | Market Cap | Volume (24h) |
|---|---|---|---|---|
| Bitcoin (BTC) | $61,390.46 | 0.0128 | $1.23T | $37.95B |
| Ethereum (ETH) | $1,701.56 | 0.0451 | $205.36B | $13.39B |
| Tether (USDT) | $0.9987 | 0.0001 | $184.06B | $74.59B |
| BNB (BNB) | $560.19 | 0.0115 | $75.5B | $1.26B |
| USDC (USDC) | $0.9997 | 0 | $73.21B | $10.65B |
| XRP (XRP) | $1.09 | 0.0261 | $67.94B | $1.74B |
| Solana (SOL) | $80.44 | 0.0285 | $46.74B | $3.92B |
| TRON (TRX) | $0.3169 | 0.0025 | $30.06B | $452.4M |
| Hyperliquid (HYPE) | $66.47 | 0.0429 | $16.8B | $463M |
| Dogecoin (DOGE) | $0.07444 | 0.017 | $12.7B | $690.17M |
Biggest Gainers: Ethereum, Hyperliquid, Solana
Ethereum leads the top ten today, up 4.51%. Fresh ETF inflows are pulling the token back toward $1,700. Hyperliquid follows closely at 4.29%, extending strong momentum in derivatives trading. Solana adds 2.85%, holding gains from its recent rally toward $80.
Biggest Losers: None in the Top Ten
Every asset in the top ten posted gains today. Stablecoins Tether and USDC stayed flat, as expected. TRON logged the smallest move among non-stable assets, up just 0.25% on the day.
Here are the top headlines impacting crypto prices today.
US payrolls grew by only 57,000 in June, missing expectations by a wide margin. The soft print reduced bets on further Fed tightening this year, giving risk assets a fresh lift.
Bitcoin and Ether rallied on the data, alongside gains in equities. Traders now see a more accommodative Fed stance as likely, with the next policy signal expected at the July 29 FOMC meeting.
The White House had targeted a July 4 signing for the CLARITY Act, but a Senate recess pushed the vote further out. Prediction markets trimmed 2026 passage odds sharply this week.
XRP traders are watching the delay closely, since the bill would set clearer digital asset rules. Continued uncertainty keeps a lid on altcoin upside despite today's broader market strength.
Citi lowered its 12-month Bitcoin forecast from $112,000 to $82,000. The bank also cut its Ether target from $3,175 to $2,240, citing weak ETF flows and softer investor appetite overall.
The bank's bear case places Bitcoin near $53,000 if outflows persist. Analysts see the downgrade as a signal that institutional conviction remains fragile despite this week's price recovery.
JPMorgan said Strategy's approach to selling Bitcoin adds unnecessary uncertainty to markets. The bank recommended the firm rely on equity issuance instead to build its cash reserves going forward.
The note added fresh scrutiny to corporate treasury strategies tied to Bitcoin. Analysts flagged similar concerns around other large holders as prices remain well off 2025 highs.
Also Read: Crypto News Today: American Bitcoin Plans Reverse Split to Protect Nasdaq Listing
Bitcoin's hold above $61,000 marks a steadier session after weeks of heavy selling. Most desks still call this a relief bounce rather than a confirmed reversal. The $60,000 to $61,000 zone remains the key support to defend.
A break below that zone could reopen the path toward $58,000, then the realized price near $53,000 flagged by Mudrex. On the upside, $62,600 and then $65,000 are the levels bulls need to reclaim.
Ether's strength above $1,650 and Hyperliquid's continued climb suggest capital is rotating back into higher-beta names. ETF flows remain the swing factor for both majors going into next week.
Investors should track daily ETF data, the CLARITY Act's delayed Senate vote, and Fed commentary ahead of the July 29 FOMC meeting. The $60,000 support level stays the market's most critical price point.
What is the Bitcoin price today?
Bitcoin is trading near $61,390.46 today, up 1.28% over the past 24 hours, per CoinMarketCap data. Support holds near $60,000, a level bulls need to defend closely. Resistance sits at $62,600, then $65,000, marking the next upside targets for traders watching this recovery.
Why did Bitcoin recover this week?
A weaker-than-expected June jobs report sharply cooled near-term Fed rate hike expectations. Softer payrolls data lifted Bitcoin and broader risk assets across equities and crypto markets alike. Fed Chair Kevin Warsh also struck a more accommodative tone, reinforcing the shift in sentiment among institutional traders.
What is the biggest crypto news today?
The CLARITY Act's slipped July 4 deadline remains the top regulatory story weighing on sentiment. Citi's cuts to Bitcoin and Ether price targets added fresh caution among institutional desks this week. JPMorgan's note flagging risk in Strategy's Bitcoin sales policy also drew attention across trading floors today.
Which coins are gaining the most today?
Ethereum leads today's session with a 4.51% gain, supported by renewed ETF inflows and rotation. Hyperliquid follows closely at 4.29%, extending strong momentum in derivatives trading volumes this week. Solana adds 2.85%, holding its recent rally, while no coin in the top ten posted losses today.
What should crypto investors watch this week?
Track daily ETF flow data closely, since institutional demand remains the key swing factor for majors. Watch the CLARITY Act's delayed Senate vote and any fresh Fed commentary ahead of the July 29 FOMC meeting. The $60,000 Bitcoin support level remains the market's most critical price point.
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