Bitcoin reached a peak of $63,882 overnight but later dropped to about $62,900, according to CoinDesk. The 24-hour high of $63,900 was only temporary before sellers intervened to bring the price down.
The recent U.S. jobs report released on Thursday fell short of expectations, providing a boost to assets sensitive to liquidity as the weekend approached.
A decline in the jobs market reduces the likelihood of a Federal Reserve interest rate hike and gradually alters the circumstances that drove ETF investors away from bitcoin until June. However, this adjustment requires time, and a single report does not change the overall trend. The upcoming CPI report on July 14 will be the next key data point that could either prolong the current relief or limit the momentum of the early July rally.