Bitcoin price hits $62K, reaches July high as weak US jobs data fuels Fed easing hopes

Bitcoin climbed to a fresh July high on July 2, breaking above the $62,000 mark for the first time this month. The leading cryptocurrency posted a daily gain of nearly 4%, extending its winning streak to two days in what traders are calling a "green July." The rally was fueled by weaker-than-expected US jobs data, which strengthened the case for the Federal Reserve to adopt a more accommodative monetary policy in the coming months. At press time, BTC was trading around $62,300, with market sentiment turning increasingly bullish. The price action reflects growing optimism that easing inflation and slowing labor market conditions will lead to rate cuts or other dovish measures, benefiting risk-on assets like cryptocurrencies.