According to 10x Research, stronger-than-expected U.S. employment data sparked Bitcoin volatility and ETF outflows, but long-term holders' active buying provided price support. Weakening employment data also pushed market expectations for the next rate hike from October 2026 to December, offering near-term support for BTC.
Bitcoin has rebounded to $61,500 from $58,500 in recent days, potentially offering traders fresh entry opportunities. Historically, July sees Bitcoin average gains of 9.1%, though the market typically enters consolidation from August through September.