Bitcoin holds above $61,000 after weak US jobs data as traders watch for a possible rebound

Bitcoin held above $61,000 after a weak US jobs data report helped ease fears of additional rate hikes. The move has fueled renewed speculation that BTC may have put in a short-term bottom, with some traders watching for a possible push toward $70,000.

The report matters because expectations around Federal Reserve policy often influence risk assets, including cryptocurrencies. Softer labor data can reduce pressure for aggressive tightening, which may support demand for assets seen as benefiting from looser financial conditions.

The broader market backdrop also includes weakness in the AI sector, which some analysts say could be encouraging a rotation of capital. In that scenario, Bitcoin and gold may attract interest as alternative places for investors to park funds.

Even so, the market remains cautious, and the idea that Bitcoin has already bottomed is still a view rather than a confirmed trend. Traders are watching whether recent strength can hold if macroeconomic data and risk sentiment continue to shift.

For now, Bitcoin’s ability to remain near the $61,000 level is being treated as an important signal by market participants looking for signs of stabilization.