Bitcoin Breaks Above $61,000 as Non-Farm Payrolls Become Next Key Catalyst
Taylor Wilson
Fed Chair Kevin Warsh signaled that inflation risks have declined, pushing Bitcoin from a weekly low of $58,200 to above $61,000 — a roughly 4.1% jump in 24 hours. Analysts warn the bounce alone cannot erase H1 losses; June non-farm payrolls will set the tone for July.
What did Warsh say, and why did the market react instantly?
Fed Chair Kevin Warsh told the ECB's Sintra forum that inflation risks have declined — his first notably dovish signal since a hawkish rate outlook in June triggered weeks of Bitcoin ETF outflows.
This means → the single biggest pressure source on crypto sentiment just eased. Bitcoin jumped above $61,000 on Thursday, up roughly 4.1% in 24 hours from a weekly low of $58,200.
In plain terms = the same voice that scared money out of Bitcoin ETFs in June is now saying the picture has improved — and the market priced that shift within hours.
Tech stocks sold off — so why did Bitcoin rally?
On the same day, South Korea's KOSPI fell 7.9%. Samsung and SK Hynix shed a combined ~$290 billion in market cap — the second sharp AI-chip-demand scare this month.
Meta announced plans to sell spare compute capacity to outside clients, reigniting questions about whether AI infrastructure spending has run ahead of actual demand.
This reflects a broader rotation: all through Q2, capital flowed from crypto into AI trades, leaving Bitcoin with its third-ever back-to-back quarterly loss. Now that AI stocks themselves are under pressure, some of that capital is reversing — Bitcoin holding gains during a chip-stock selloff is seen as a rare relative-strength signal.
What do analysts say — can the bounce last?
FxPro chief market analyst Alex Kuptsikevich warned earlier this week — while Bitcoin was still pinned below $60,000 — that the pattern was "a rather dangerous consolidation for bulls," flagging $40,000 as the next real support if the floor broke.
Thursday's move back above $61,000 buys bulls more breathing room, but he noted that one strong close cannot erase the first-half loss picture.
In plain terms = sentiment remains fragile. The bounce is real, but whether it marks a trend reversal still needs more data to confirm.
Why are non-farm payrolls the next key event?
The U.S. June non-farm payrolls report is the next major swing factor.
This means → strong jobs data would give the Fed reason to stay restrictive, pressuring Bitcoin; weak data would revive rate-cut expectations and lift risk assets.
Put simply = whatever the number says, it will set the tone for July. Whether Bitcoin holds $61,000 will not be decided on-chain — it will be decided at the Bureau of Labor Statistics.
Content is for reference only, not financial advice.