Bitcoin Pops to $63,900, Fades on Jobs Data
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- Bitcoin touched $63,882 overnight before retreating to around $62,900, with the 24-hour high of $63,900 held only briefly before sellers reasserted control, per CoinDesk data.
- Thursday's U.S. jobs report came in weaker than expected, giving liquidity-sensitive assets a lift heading into the weekend.
- Weakening labor data makes a Fed rate hike less likely and gradually shifts the backdrop that pushed ETF investors out of Bitcoin through June, though the source cautions "one print does not flip the setup."
- The July 14 CPI release is the next data point that could either extend the relief or further cap an early-July rally.
Why it matters: For Bitcoin traders, the bounce was real but fragile: a softer jobs print gave risk assets room to breathe, yet the immediate fade below $63,000 shows sellers still control the tape. The July 14 CPI print becomes the binary catalyst — a cool reading extends the relief, a hot one buries the early-July rally before it builds momentum.
