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

Bitcoin rose above the $62,000 level on Friday, putting the cryptocurrency on pace for a weekly gain as softer U.S. economic data and a reversal in fund flows improved investor sentiment. The recovery marks a rebound from a 21-month low reached earlier in the week, with the asset extending gains from the previous session.

Economic Data and ETF Flows Fuel Rebound

Market sentiment was bolstered by recent U.S. labor market data, which pointed to cooling employment conditions. This has reinforced investor expectations that the Federal Reserve may hold off on near-term interest rate hikes, a scenario that typically benefits risk-sensitive assets like cryptocurrencies by improving liquidity conditions.

The price recovery also coincided with renewed institutional demand for spot Bitcoin exchange-traded funds (ETFs). According to data from SoSoValue, U.S.-based spot Bitcoin ETFs recorded net inflows of $221.7 million on July 2, breaking a 10-consecutive-session streak of withdrawals that had weighed heavily on prices.

Price Action and Market Context

By 8:49 AM ET, Bitcoin was trading 1.9% higher at $62,010.0, according to Investing.com data. The digital asset is on track for a weekly rise of approximately 3%, recovering from a dip below $58,000 earlier this week.

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This recent uptick comes after a challenging period for the cryptocurrency. Bitcoin lost more than 30% of its value during the first half of 2026, marking its weakest six-month performance in years amid signs of weakening institutional demand.

Altcoins Join the Rally

The positive momentum extended across the broader cryptocurrency market on Friday. Key altcoins posted notable gains in broad-based buying, including:

• Ethereum (ETH), the second-largest cryptocurrency, jumped 4.3% to $1,734.55.
• Cardano (ADA) surged 5.1%.
• Dogecoin (DOGE) gained 2.1%.
• XRP and Solana (SOL) also posted modest gains.