Investing.com– rose above $61,000 on Friday and was on track for a weekly gain after soft U.S. jobs data eased fears of a near-term Federal Reserve interest rate hike, while a return to net inflows into exchange-traded funds (ETFs) helped stabilize market sentiment.
The world’s largest cryptocurrency last traded 1.9% higher at $61,632.5 by 01:29 ET (05:29 GMT), extending a rebound from this week’s 21-month low under $58,000.
Bitcoin had briefly topped $62,000 in the previous session, and was set for a 3% weekly rise.
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Soft US jobs data, net ETF inflow provide support
Market sentiment improved after the latest U.S. labor market data pointed to cooling employment conditions, reinforcing expectations that the Fed may refrain from raising interest rates in the near term.
Lower borrowing costs typically support risk-sensitive assets such as cryptocurrencies by improving liquidity conditions.
The recovery also coincided with renewed demand for spot Bitcoin ETFs after weeks of persistent withdrawals that had weighed heavily on prices.
According to SoSoValue, U.S. spot Bitcoin ETFs recorded net inflows of $221.7 million on July 2, ending a string of 10 consecutive sessions of withdrawals.
Bitcoin lost more than 30% during the first half of 2026, its weakest six-month performance in years due to weakening institutional demand.
“In the medium term, the biggest question is whether the run of data in the coming months proves strong enough to force the Fed’s hawkish bias into action, especially knowing that single rate hike cycles are extremely rare,” an IG analyst said in a recent note.
Crypto price today: altcoins climb, Ether jumps 5%
Most altcoins rose in broad-based buying on Friday.
World no.2 crypto jumped 5% to $1,707.89.
World no. 3 crypto rose 3.3% to $1.09.
tacked on 3.5%, while surged 6%.
Among meme tokens, gained 2.6%.