Bitcoin climbs above $61,000 as weak US jobs data fuels Fed rate cut hopes

Bitcoin climbed above $61,000, up 2.80% in 24 hours, while Ethereum rose 6.24% to around $1,716, as weaker-than-expected US jobs data boosted expectations of a Federal Reserve rate cut. The global crypto market capitalisation gained 2.64% to $2.13 trillion, though analysts cautioned that institutional demand remains weak due to persistent ETF outflows and higher bond yields. Bitcoin whales added 270,000 BTC, triggering about $130 million in short losses, while the fear and greed index improved to 22 but stayed in fear territory.