Bitcoin recovered the $63,000 level on the back of weak U.S. jobs data.
According to CoinMarketCap, a global virtual asset market site, as of 8:30 a.m. on the 6th, Bitcoin was trading at $63,621, up 0.91% from 24 hours earlier. Bitcoin fell to $58,664 at 4 p.m. on the 1st, surrendering the $60,000 level, but then rebounded and recovered $63,000.
Altcoins (virtual assets other than Bitcoin) also rose across the board. At the same time, Ethereum, the No. 2 by market cap, rose 0.75% to $1,790. Ripple rose 0.03% to $1.15, and Solana gained 0.1% to $81.6.
The dollar weakened. The dollar index (DXY), which measures the dollar against the currencies of six major countries, came in at 100.88. It climbed to 101.8 on the 24th of last month, but turned lower as U.S. jobs data fell well short of market expectations. According to the U.S. Department of Labor, nonfarm payrolls last month increased by 57,000 from the previous month, less than half of the market forecast of 115,000.
The market is focusing on the Federal Open Market Committee (FOMC) minutes to be released this week. With signs of a slowdown in the labor market confirmed, attention is on how the Federal Reserve (Fed) views interest rate hikes. The June FOMC minutes are scheduled to be released at 3 a.m. on the 9th Korea time.