Bitcoin climbed back above $60,000 on Thursday as investors prepared for the latest U.S. employment report.
The June jobs data could provide fresh clues about the Federal Reserve’s interest-rate outlook after Bitcoin recorded one of its weakest first-half performances in recent years.
Bitcoin Price Rebounds Above $60,000
Bitcoin rose around 3% to $60,499.70 by 02:03 ET, or 06:03 GMT.
The recovery offered some relief following an extended cryptocurrency selloff. However, the broader market remained under pressure because of weakening investor confidence and continued withdrawals from U.S. spot Bitcoin exchange-traded funds.
Bitcoin lost more than 30% during the first six months of 2026.
US Jobs Report Takes Center Stage
Investors are now focused on the June U.S. nonfarm payrolls report.
Traders will examine the data for signs that the labor market is slowing. A weaker employment report could revive expectations that the Federal Reserve may lower interest rates.
Lower borrowing costs are generally considered positive for Bitcoin and other speculative assets. Reduced interest rates can encourage investors to seek higher returns from riskier markets.
Federal Reserve Policy Remains Uncertain
Recent comments from Federal Reserve Chair Kevin Warsh provided limited support to financial markets.
Warsh said inflation risks had eased recently. However, he also repeated the central bank’s commitment to returning inflation to its 2% target.
He warned that investors expecting a rapid shift toward looser monetary policy could be disappointed.
As a result, the upcoming U.S. jobs data may play an important role in shaping expectations for the Federal Reserve’s next decision.
Bitcoin Faces Institutional Demand Concerns
Bitcoin has struggled throughout 2026 as institutional demand has weakened.
Persistent outflows from U.S. spot Bitcoin ETFs have added selling pressure and raised concerns about declining interest from large investors.
Limited progress on cryptocurrency legislation in the United States has also affected market sentiment.
Meanwhile, geopolitical uncertainty surrounding negotiations between the United States and Iran has reduced demand for riskier assets.
Bitcoin Tracks Technology Stocks
Cryptocurrency prices have increasingly moved alongside technology stocks and other risk-sensitive assets.
This stronger relationship has made Bitcoin more responsive to economic data, central bank decisions, and changes in global investor confidence.
Traders are therefore monitoring inflation figures, employment reports, Federal Reserve statements, and investment flows into cryptocurrency products.
Long-Term Bitcoin Outlook Remains Constructive
Despite the recent decline, some analysts remain optimistic about Bitcoin’s longer-term prospects.
Supporters argue that institutional adoption, regulatory progress, and growing demand for digital assets could eventually support another recovery.
However, Bitcoin’s near-term direction may depend heavily on macroeconomic conditions and whether capital begins returning to spot Bitcoin ETFs.
Altcoins Follow Bitcoin Higher
Most major altcoins also moved higher on Thursday, although trading conditions remained relatively subdued.
Ethereum gained around 2% to $1,626.92, while XRP rose approximately 1% to $1.06.
Solana advanced about 4%, making it one of the strongest-performing major cryptocurrencies. Cardano climbed around 2%.
Among meme cryptocurrencies, Dogecoin increased approximately 0.6%.
Crypto Traders Await the Next Market Catalyst
The U.S. employment report could determine whether Bitcoin extends its recovery or returns below the $60,000 level.
Weak jobs data could strengthen expectations for lower interest rates and support cryptocurrency prices. However, stronger employment figures could reinforce the Federal Reserve’s cautious policy stance.
Investors will also continue monitoring Bitcoin ETF flows, U.S. cryptocurrency regulation, geopolitical developments, and movements in technology stocks.
