Bitcoin, Ethereum, XRP, and Dogecoin Prices Soar Amid Market Uncertainty
July 4, 2026
Cryptocurrencies experienced widespread gains on Thursday due to softer-than-expected U.S. jobs data, which dampened expectations for a Federal Reserve rate hike and steered investors towards riskier assets. Bitcoin (CRYPTO: BTC) saw a 2.19% increase, reaching $61,460.31, briefly crossing the $62,000 mark before settling in the low $61,000 range.
Ethereum (CRYPTO: ETH) led the pack with a 5.67% surge, breaking through the $1,700 level and trading steadily near $1,708.41. XRP (CRYPTO: XRP) climbed 3.23% to $1.09, Dogecoin (CRYPTO: DOGE) rose by 3.17% to $0.07466, and Solana (CRYPTO: SOL) increased by 4.20% to $81.33. In equities, Strategy Inc. (NASDAQ: MSTR) shot up by 7.90%, while Bitmine Immersion Technologies Inc. (NYSE: BMNR) closed with a 1.48% gain.
In the last 24 hours, nearly $460 million was liquidated from the cryptocurrency market, primarily due to short positions according to Coinglass data. Bitcoin’s open interest rose by 1.14% to $46.22 billion, and Binance derivatives traders maintained a net long position on the asset while reducing their exposure. The global cryptocurrency market capitalization experienced a modest 0.79% decrease over the previous 24-hour period, reaching $2.2 trillion.
The U.S. job market expansion slowed dramatically in June, with only 57,000 jobs added, falling well below the forecasted 110,000 and dropping from May’s 129,000. The CME Group’s FedWatch tool indicated a decrease in the likelihood of the Fed keeping rates steady in September to 45%, down from nearly 50% the day before.
Major stock indices reacted positively to the news, with the Dow Jones Industrial Average increasing by 594.83 points, or 1.14%, closing at a record 52,900.07, while the S&P 500 closed at 7,483.24. CryptoQuant cautioned that Bitcoin’s failure to maintain the $60,000 level could prompt accelerated selling, potentially pushing prices down towards the support level of $53,000.
CryptoQuant also pointed out that the average Bitcoin deposit size has doubled from 1 BTC to 2 BTC, indicating increased activity from whales and institutional investors rather than retail participants. Despite market fluctuations, well-known cryptocurrency analyst Michaël van de Poppe expressed no intentions of selling his altcoin portfolio, waiting for broader market enthusiasm before considering profit-taking strategies.
In today’s cryptocurrency space, Magma Finance surged by 37.08% to $0.5301, MemeCore jumped by 28.90% to $1.58, and LAB advanced by 26.20% to $11.54, all among cryptocurrencies with market capitalizations exceeding $100 million. The market’s response to the U.S. jobs data underscores the interconnectedness of traditional markets and cryptocurrency assets, with investors reacting swiftly to changing economic indicators.
