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

Bitcoin's price rose above the $62,000 mark on Friday, positioning the leading cryptocurrency for a weekly gain as investors reacted to cooling U.S. economic data and a reversal in fund flows.

As of 08:49 ET (12:49 GMT), Bitcoin traded at $62,010.0, up 1.9% for the session and on pace for a 3% weekly increase, according to data from Investing.com. The move marks a significant rebound from a recent low below $58,000.

Macro Tailwinds and ETF Demand Return

Two key factors appear to be supporting the price recovery. First, recent U.S. labor market data pointed to a cooling jobs market, which has reinforced market expectations that the Federal Reserve may hold off on further interest rate hikes. Lower borrowing costs typically improve liquidity and support investor appetite for risk-sensitive assets like cryptocurrencies.

Second, sentiment was bolstered by renewed demand for U.S. spot Bitcoin exchange-traded funds (ETFs). After a prolonged period of withdrawals that weighed on prices, the funds saw a significant turnaround.

• According to data from SoSoValue, U.S. spot Bitcoin ETFs recorded net inflows of $221.7 million on July 2.
• This positive flow ended a streak of 10 consecutive sessions of net withdrawals.

Market Context

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The recent gains provide some relief for investors after a difficult period. Bitcoin lost more than 30% in the first half of 2026, marking one of its weakest six-month performances amid weakening institutional demand.

An analyst from IG noted in a recent report that the key medium-term question is whether upcoming economic data will be strong enough to "force the Fed’s hawkish bias into action."

Altcoins Follow Bitcoin Higher

The positive momentum extended across the broader cryptocurrency market on Friday. Other major digital assets, or altcoins, also posted gains.

• Ethereum (ETH), the second-largest cryptocurrency, jumped 4.3% to $1,734.55.
• Cardano (ADA) surged 5.1%.
• XRP and Dogecoin (DOGE) rose 1.2% and 2.1%, respectively.