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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InIn a move reflecting the crypto market's sensitivity to macroeconomic shifts, Bitcoin price stabilized above the $61,000 level, heading towards positive weekly gains. This consolidation follows the release of soft US jobs data, which bolstered expectations for potential Federal Reserve rate cuts. According to reports, the cooling labor market has provided necessary support for digital assets, traditionally seen as beneficiaries of a more accommodative monetary environment.
These price movements coincide with mixed global sentiment, as Michigan Consumer Sentiment data recorded a reading of 49.5 on June 26, 2026, falling short of the 50.0 forecast per market data. Market analysts noted in recent reports that the dip in 1-year inflation expectations to 4.6% provides the Fed with more policy flexibility, a dynamic that historically favors non-yielding assets like Bitcoin over the US Dollar.
Traders should monitor current liquidity levels as Bitcoin remains in a consolidation phase awaiting new catalysts. Looking ahead, the market will focus on the Chinese Manufacturing PMI due on June 30, 2026, which could impact broader risk appetite. While the $60,000 mark remains a critical psychological support level, a sustained break above recent highs would be required to confirm a trend reversal.