Nonfarm payroll data briefly supports BTC, but continued ETF outflows cap rebound heights#



The U.S. June nonfarm payroll data on the evening of July 2 fell significantly short of expectations, temporarily boosting market expectations for interest rate cuts. The dollar and U.S. Treasury yields weakened simultaneously, driving Bitcoin to rapidly rally from the $59,000 level, reaching a high of $62,200. The intraday maximum gain exceeded 3.3%. By midday on July 3, the price had retreated to narrow fluctuations around $61,400, with the rebound clearly lacking momentum.
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