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Why Bitcoin Jumped towards $62,000 and What Could Carry It to $70,000
Bitcoin (BTC) nearly topped $62,000 on Thursday after US payrolls grew by just 57,000 in June, roughly half of what economists expected. The miss revived Federal Reserve rate cut hopes and forced bearish traders to exit crowded short positions.
The rebound arrived days after Bitcoin closed its worst month since June 2022, a 20.5% drop. Whether the bounce extends to $70,000 now hinges on Fed policy, ETF flows, and whale activity on exchanges.
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