Bitcoin Hits New July High Above $62K on Weak US Jobs Data

News Editor

2026-07-02 17:41:26

Bitcoin surged nearly 4% on the second day of 'Green July,' reclaiming $62,000 and setting a new monthly high. Weaker-than-expected US labor market data reinforced expectations of a dovish Fed policy pivot, boosting risk assets like crypto.

Bitcoin Breaks $62,000

Bitcoin extended its rally on the second day of 'Green July,' gaining nearly 4% to top $62,000, reaching a new high for the month. The move came after US employment data showed a slowdown in job growth, fueling bets that the Federal Reserve may ease its inflation-fighting stance.

Bitcoin Hits New July High Above $62K on Weak US Jobs Data 2

Macro Backdrop

The softer jobs report weakened the dollar and strengthened the case for a pause or reversal in rate hikes. Crypto assets, sensitive to liquidity conditions, benefited from the dovish outlook. Traders now eye upcoming inflation data and Fed commentary for further direction.

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

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