Bitcoin Climbs Above $62,000 as Softer U.S. Jobs Data, ETF Inflows Boost Sentiment

Bitcoin's price rose above $62,000 on Friday, positioning the cryptocurrency for a weekly gain as softer U.S. economic data and a reversal in fund flows for spot exchange-traded funds (ETFs) helped stabilize market sentiment.

The world's largest cryptocurrency traded at $62,010.0, a gain of 1.9% as of 08:49 ET (12:49 GMT), according to data from Investing.com. The move extends a rebound from a recent low below $58,000 and puts Bitcoin on track for a weekly rise of approximately 3%.

Macroeconomic Tailwinds

A primary catalyst for the improved sentiment was recent U.S. labor market data, which indicated a cooling in employment conditions. This has reinforced investor expectations that the Federal Reserve may refrain from raising interest rates in the near term, as lower borrowing costs typically create a more favorable liquidity environment for risk-sensitive assets like cryptocurrencies.

According to an analyst note from IG cited by the source, a key question for the medium term is whether upcoming data will be strong enough to "force the Fed’s hawkish bias into action."

ETF Flows Signal Renewed Demand

Investor confidence was also bolstered by renewed demand for U.S. spot Bitcoin ETFs after a prolonged period of withdrawals. This shift in institutional capital flow is a crucial indicator for the market.

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• Data from SoSoValue showed that U.S. spot Bitcoin ETFs recorded net inflows of $221.7 million on July 2.
• This positive flow ended a string of 10 consecutive sessions of withdrawals that had weighed heavily on prices.

This follows a challenging period for the asset, which lost over 30% in the first half of 2026, marking one of its weakest six-month performances amid weakening institutional interest.

Broader Crypto Market Rallies

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

Ethereum (ETH), the second-largest cryptocurrency, jumped 4.3% to trade at $1,734.55. Other notable movers included Cardano (ADA), which surged 5.1%, and XRP, which rose 1.2%.