Bitcoin climbed above $61,000 on Friday and was headed for a weekly gain as weaker-than-expected U.S. employment data reduced expectations of an imminent Federal Reserve interest rate increase. Improved investor sentiment was also supported by a return to net inflows into exchange-traded funds (ETFs).
The largest cryptocurrency by market value was up 0.69 percent at $61,904 as of 11:48 GMT, continuing its recovery after falling below $58,000 earlier this week, its lowest level in 21 months.
Bitcoin set for 3.77 percent weekly gain
Bitcoin briefly surpassed $62,000 in the previous session and was on course to post a weekly gain of about 3.77 percent.
Investor sentiment strengthened after fresh U.S. labor market figures signaled a slowdown in hiring, boosting expectations that the Federal Reserve could keep interest rates unchanged in the near term.
A more accommodative interest rate outlook generally benefits higher-risk assets, including cryptocurrencies, by supporting market liquidity and investor appetite.
U.S. spot Bitcoin ETFs attract net inflows of $221.7 million
Bitcoin also found support from renewed inflows into U.S. spot Bitcoin exchange-traded funds (ETFs), reversing weeks of sustained outflows that had pressured the cryptocurrency.
Data from SoSoValue showed that U.S. spot Bitcoin ETFs attracted net inflows of $221.7 million on July 2, breaking a streak of 10 straight trading sessions of net withdrawals.
Despite the recent rebound, Bitcoin remains down more than 30 percent in the first half of 2026, marking its weakest six-month performance in several years as institutional buying slowed.
Read: Bitcoin rebounds to near $61,000 ahead of key U.S. payrolls data
Buying activity strengthens across crypto market
Most major altcoins posted gains on Friday as buying activity strengthened across the broader cryptocurrency market.
Ether, the world’s second-largest cryptocurrency, climbed 5.65 percent to $1,743.99, while XRP, the third-largest digital token by market capitalization, advanced 2.55 percent to $1.1119.
Solana fell 1.06 percent to $81.590, while Cardano outperformed with a 6.27 percent gain.
Among meme cryptocurrencies, Dogecoin added 2.44 percent.
