Crypto
Crypto News Redemption: Bitcoin, Ethereum Price Extend Recovery
The crypto market recovery is driven by easing geopolitical tensions, a falling unemployment rate, and growing institutional interest.
BLOCKINSIDERLoadingThe crypto market recovery is driven by easing geopolitical tensions, a falling unemployment rate, and growing institutional interest.
The crypto market extended its recovery for the third straight day amid easing geopolitical tensions, as it seemed poised to continue its recovery. Softer US jobs data and fresh ETF inflows added to the green charts.
Bitcoin (BTC) price gained nearly 7% from its weekly low of $57,810 to trade at the $61,750 level, while Ether (ETH) price gained 14% from $1,512 to around $1,721, according to recent market data. BTC added 1.20% in the past 24 hours, with ETH up 5.50% in the same window.
Recently, a news influencer who goes by Walter Bloomberg (@DeItaone) shared multiple Tweets about easing geopolitical tension, positive progress toward US-Iran peace talks, and a falling unemployment rate in the US, potentially triggering market recovery.
Meanwhile, institutions are also back in support, as US spot exchange-traded funds (ETFs) end their outflow streak and registered massive inflows in both Bitcoin and Ethereum.
In a report, the expert noted that U.S. nonfarm payroll rose by just 57,000 in June, 113,000 that economists surveyed by Bloomberg expected, according to the Bureau of Labor Statistics (BLS).
The unemployment rate dipped to 4.2%, though largely because labor force participation slipped to 61.5%, its lowest since March 2021.
While private payroll increased by 49,000. The expert further stated,
“The unemployment rate unexpectedly fell to 4.2% from an expected 4.3%. Average hourly earnings matched forecasts, rising 0.3% m/m and 3.5% y/y, while labor force participation slipped to 61.5%.”
Geopolitics did the rest of the damage control. US President Donald Trump reportedly said Iran has agreed to most of what Washington needs, while Qatar's foreign minister pointed to progress in the indirect talks held in Doha.
It’s not just Trump’s comment that triggered the crypto market recovery, but Qatar’s foreign minister’s statement of positive progress in peace talks.
In fact, Qatar's foreign minister further stated that the next meeting on the peace talks will be held after the funeral processions for Iran’s late Supreme Leader Ayatollah Ali Khamenei, scheduled on July 9, 2026.
These developments have helped Bitcoin and Ether prices surge. In fact, the ongoing market recovery has shifted short-term bias towards the bullish side.
Now the question is: what’s next for the crypto market?
Recently, Tiger Research, a digital asset market researcher, commented that it is becoming more constructive on Bitcoin, arguing the market is likely in the final stage of its bear cycle.
In fact, they believe most of the selloff has already occurred, with any further weakness likely limited. It expects the next cycle to be driven by improving liquidity, institutional adoption, and expanding monetary demand.
Looking at the details of U.S. spot crypto ETFs on SoSoValue, it appears that the majority of crypto ETFs have recorded notable inflows.
Talking about Spot Bitcoin ETFs, it has registered a massive inflow of $221.72 million, marking the first inflow since June 27, 2026. Whereas U.S.-listed Ethereum, XRP, Solana, and HYPE ETFs have recorded massive inflows of $29.08 million, $6.55 million, $2.20 million, and $2.24 million, respectively, on July 2, 2026.
This massive inflow into top crypto ETFs shows that institutions on Wall Street are back, showing their interest and confidence in the crypto market. In fact, these inflows appear to be the key driver for today’s crypto market recovery.
No comments yet
Be the first to share your take when accounts launch.
