Bitcoin has staged a significant recovery, climbing to approximately $62,000 as of July 3, 2026, marking a 7.3% rebound from its early-July lows.
This "soft" jobs data immediately altered interest rate expectations. According to CME FedWatch data, the probability of a Federal Reserve rate hike by September plummeted from 65% to 50% following the release. For Bitcoin, which has acted as a high-beta, non-yielding asset, this shift in the interest rate narrative provided much-needed relief.
By easing the opportunity cost of holding non-yielding digital assets, the market sentiment flipped from "Extreme Fear" (an index score of 11 on July 1) to a more optimistic stance.
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