Investing.com– rebounded to $62,000 on Thursday as investors welcomed softer-than-expected U.S. payrolls data, which gives Federal Reserve policymakers less reason to hike interest rates later this month.
The world’s largest cryptocurrency last traded 4.3% higher at $62,003.7 by 09:50 ET (13:50 GMT).
Still, cryptocurrencies remained under pressure after a prolonged selloff driven by persistent outflows from U.S. spot exchange-traded funds and weakening risk appetite.
Bitcoin recorded a more than 30% decline in the first six months of 2026.
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U.S. added just 57,000 jobs in June, missing forecasts
U.S. job growth slowed markedly last month, according to the June U.S. report released Thursday, complicating the Federal Reserve’s read on an economy policymakers had increasingly viewed as resilient.
Employers added 57,000 jobs in June, down from a revised 129,000 in May and well below the 115,000 economists surveyed by Dow Jones had expected. The unemployment rate ticked down to 4.2%, though that remains slightly above the 4.1% level recorded a year earlier.
The figures complicate a narrative that had been taking hold in recent months of a labor market regaining its footing. At the same time, the softer numbers ease pressure on the Fed to raise interest rates, giving policymakers more room to hold steady through the summer.
Fed officials have offered a mixed assessment of the economy lately, generally upbeat on growth but wary on inflation, while concerns about labor-market weakness had begun to fade.
Fed Chairman Kevin Warsh, speaking Wednesday, called the jobs picture “steady,” reiterating the central bank’s focus on getting inflation back to its 2% target. Price growth has topped that goal for five straight years, with the latest acceleration driven partly by the conflict with Iran and lingering tariff effects.
Investors continue to bet the Fed will hold rates steady this summer. After Thursday’s release, traders priced out the chance of a rate increase in September, though futures markets tracked by the CME Group’s FedWatch tool still show odds of a move in October.
Lower borrowing costs are generally viewed as supportive for speculative assets such as cryptocurrencies.
Bitcoin has struggled this year due to slowing institutional demand and limited progress on U.S. cryptocurrency legislation. Geopolitical uncertainty surrounding U.S.-Iran negotiations has also weighed on sentiment.
Despite the recent weakness, some analysts remain constructive on the longer-term outlook.
Digital asset markets have increasingly moved in tandem with technology stocks and broader risk assets this year, leaving traders focused on macroeconomic data, central bank signals and capital flows into crypto investment products for direction.
Crypto price today: altcoins rise after soft payrolls data
Most altcoins rose on Thursday after the jobs data eased concerns over higher rates.
World no.2 crypto jumped 7.2% to $1.712.92.
World no. 3 crypto gained 5.6% to $1.10.
rose 7.4%, while climbed over 5%.
Among meme tokens, added 4%.
Vahid Karaahmetovic contributed to this report.
Source:
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