Bitcoin rebounds above $63,500 as ETF inflows return and weak US jobs data ease rate hike fears.
Bitcoin price recovered above the key $63,500 level after volatile trading, supported by renewed inflows into US-listed spot Bitcoin ETFs totaling $221.7 million, ending a 10-day outflow streak. This institutional demand boost came alongside weaker-than-expected US labor data, which reduced fears of an imminent Federal Reserve rate hike, easing Treasury yields and strengthening risk appetite. Traders now watch if Bitcoin can hold $63,500 to retest resistance near $65,700; a drop below $63,500 could shift focus to $61,000. The market remains cautious due to June’s heavy outflows and regulatory pressures, so sustained buying is needed for a durable rally.
Bitcoin price recovered above the key $63,500 level after volatile trading, supported by renewed inflows into US-listed spot Bitcoin ETFs totaling $221.7 million, ending a 10-day outflow streak. This institutional demand boost came alongside weaker-than-expected US labor data, which reduced fears of an imminent Federal Reserve rate hike, easing Treasury yields and strengthening risk appetite. Traders now watch if Bitcoin can hold $63,500 to retest resistance near $65,700; a drop below $63,500 could shift focus to $61,000. The market remains cautious due to June’s heavy outflows and regulatory pressures, so sustained buying is needed for a durable rally.
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