Bitcoin and Ethereum rise after a soft June jobs report
BTC climbed from $59,962 to $61,270 on July 2 (+2.4%) and ETH to $1,656, as a weaker-than-expected jobs report revived the case for Fed rate cuts.
Bitcoin opened at $59,961.80 on Thursday, July 2, and rose to $61,270.44 by mid-morning Eastern time — up 2.4% from Wednesday. Ethereum opened at $1,607.88 and firmed to $1,656.11, also up 2.4%.
The move higher followed the release of the June jobs report, which missed expectations: the U.S. economy added just 57,000 jobs and the unemployment rate dipped to 4.2%. A cooler labor market strengthens the argument for the Federal Reserve to ease policy — a friendlier backdrop for risk assets after weeks of hawkish repricing.
The bounce marked a tentative turn after June's rout, though traders remained cautious about whether softer data would be enough to shift the Fed's stance.