Bitcoin Climbs Above $62,000, Aided by Softer Jobs Data and Renewed ETF Inflows

Bitcoin's price climbed above $62,000 on Friday, positioning the cryptocurrency for a weekly gain. The rally was fueled by softer-than-expected U.S. jobs data, which tempered expectations for a near-term Federal Reserve interest rate hike, and a renewal of investor inflows into spot Bitcoin exchange-traded funds (ETFs).

Macro Data and ETF Flows Fuel Recovery

Market sentiment improved after recent U.S. labor market data indicated a cooling job market. This has led investors to speculate the Federal Reserve may hold off on raising interest rates, a scenario that typically benefits risk-sensitive assets like cryptocurrencies by improving liquidity conditions.

The price recovery also coincided with a significant shift in institutional demand. According to data from SoSoValue, U.S. spot Bitcoin ETFs recorded net inflows of $221.7 million on July 2, snapping a 10-day streak of consecutive withdrawals that had put significant downward pressure on prices.

Market Performance and Context

As of 08:49 ET, Bitcoin was trading at $62,010.0, an increase of 1.9% for the session, according to Investing.com. The digital asset is on track for a weekly gain of approximately 3%, rebounding from a low of under $58,000 earlier in the week.

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This recent strength follows a difficult period for the cryptocurrency, which lost more than 30% in the first half of 2026, marking one of its weakest six-month performances amid weakening institutional demand.

Altcoins Join the Rally

The positive momentum extended across the broader digital asset market on Friday, with most major alternative cryptocurrencies, or altcoins, posting gains.

• Ethereum (ETH), the second-largest cryptocurrency, jumped 4.3% to $1,734.55.
• Cardano (ADA) surged 5.1%.
• XRP rose 1.2%, while Dogecoin (DOGE) gained 2.1%.
• Solana (SOL) saw a modest increase of 0.1%.