Bitcoin Breaks $62K as Weak US Jobs Data Signals Fed Policy Easing

News Editor

2026-07-02 17:41:26

Bitcoin surged nearly 4% on July 2, tapping $62,000 for the first time in July. The rally follows weak US labor market data, reinforcing market expectations that the Federal Reserve will adopt a more accommodative inflation policy. This marks a shift in sentiment after weeks of selling pressure.

BitcoinUS jobs dataFederal Reserveprice surgepolicy regulationJuly rallylabor market

Market Overview

Bitcoin continued its 'green July' momentum on the second trading day of the month, climbing nearly 4% to break above $62,000 — a new high for July 2026. The move was fueled by softer-than-expected US labor market data, which strengthened the case for the Federal Reserve to pursue an easing inflation policy in the coming months.

The rally signals a potential shift in sentiment after Bitcoin’s prolonged consolidation below $60,000. Market participants are now closely watching the Fed's next policy meeting, as a dovish turn could further boost risk assets, including cryptocurrencies. The current price action aligns with historical seasonality, where July has often been a bullish month for Bitcoin.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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