Bitcoin climbed back above the $60,000 level on Thursday as investors awaited the release of U.S. payrolls data for further signals on the Federal Reserve’s interest rate path after the cryptocurrency posted one of its weakest first-half performances in recent years.
The world’s largest cryptocurrency was up 1.43 percent to $60,821 as of 9:46 GMT.
Bitcoin ETF outflows keep crypto market under pressure
Despite Bitcoin’s rebound, the broader crypto market remained under pressure following an extended selloff fueled by sustained outflows from U.S. spot Bitcoin exchange-traded funds (ETFs) and softer investor risk appetite.
Bitcoin has fallen more than 30 percent during the first half of 2026.
Investor sentiment remained cautious ahead of the June U.S. nonfarm payrolls report, as markets looked for signs that a cooling labor market could strengthen the case for Federal Reserve interest-rate cuts.
Federal Reserve Chair Kevin Warsh’s recent remarks that inflation risks had moderated offered some support to risk assets. However, he reiterated the central bank’s commitment to its 2 percent inflation target, warning that those expecting a shift toward looser monetary policy would be disappointed.
Lower interest rates typically benefit speculative assets such as cryptocurrencies by boosting investor appetite for risk.
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Ethereum rallies 3.84 percent to $1,642.13
Bitcoin has faced headwinds this year amid slowing institutional inflows, continued outflows from spot Bitcoin ETFs, and limited progress on cryptocurrency legislation in the United States. Geopolitical uncertainty surrounding U.S.-Iran talks has also dampened market sentiment.
Even so, some analysts continue to hold a positive long-term view, citing Bitcoin’s underlying adoption and potential for renewed institutional demand once macroeconomic conditions improve.
Digital asset markets have largely tracked technology stocks and other risk-sensitive assets this year, with investors closely monitoring macroeconomic data, Federal Reserve signals and fund flows into crypto investment products for fresh direction.
Most major altcoins posted modest gains on Thursday in range-bound trading.
The world’s second-largest cryptocurrency, Ethereum, rose 3.84 percent to $1,642.13, while XRP, the third-largest token by market capitalization, advanced 2.91 percent to $1.0763.
Solana outperformed with a 5.33 percent gain to $79.51, while Cardano climbed 2 percent.
Among meme tokens, Dogecoin edged up 3.11 percent.
