7.3 Bitcoin: Non-farm payrolls cold shock drives 4000-point rally – is the 620 level a continuation or a top?

$BTC
Short entry: Near 618-621, short with stop at 625, targets 610-600
Long entry: Near 608-610, long with stop at 603, targets 620-630

Last night, the June non-farm payrolls data came in, directly triggering a rebound in the sluggish market. Only 57,000 jobs were added, less than half of market expectations. The cooling of the labour market was confirmed, and the US dollar index plunged below the 101 level, while the probability of a Fed rate hike in July hit rock bottom. Riding this tailwind, Bitcoin surged from around 59,000 to a high of 62,180, a single-day rebound of over 4,000 points, giving bulls a much-needed breather

The core logic behind this rise is that the weaker-than-expected non-farm data boosted expectations of a "delayed Fed rate hike" – a classic data-driven oversold bounce, not a trend reversal

Stay clear-headed: the medium-term core pressures haven't disappeared – spot ETFs continue to see capital outflows, institutional funds are still leaving overall, and the weak pattern of a 20% monthly drop in June has not fundamentally changed. Don't let one green candle scream "bull market is back". The sustainability of the rebound still needs confirmation from volume and capital inflows#非农爆冷打压加息预期