Bitcoin surged to a new monthly high above $62,000 on July 2, gaining nearly 4% on the second day of 'Green July.' Weak US labor market data reinforced expectations of Fed easing, boosting risk assets.

Bitcoin rallied nearly 4% on the second consecutive day of gains, breaking above $62,000 to reach a new July high. Disappointing US labor market data reinforced expectations that the Federal Reserve will adopt a looser inflation policy, providing support for risk assets including cryptocurrencies. The 'Green July' narrative gains traction as Bitcoin starts the month strongly.

Bitcoin surged nearly 4% on July 2 to reclaim the $62,000 level, marking a new high for July. The rally was driven by weaker-than-expected US labor market data, which reinforced expectations that the Federal Reserve will ease its inflation-fighting policy. The ADP employment report missed forecasts, boosting bets on rate cuts and fueling risk-on sentiment across crypto markets.