The market stabilizes before the U.S. Independence Day holiday, with Bitcoin holding above $61,000

On the eve of the U.S. Independence Day holiday, sentiment in the crypto market is gradually stabilizing. Bitcoin is holding above $61,000, and Ethereum has climbed above $1,700, continuing the rebound from the previous day. The unexpectedly weak U.S. non-farm payroll data earlier had cooled market expectations for further tightening by the Federal Reserve, rekindling demand for risk assets. Volatility in the options market has notably declined, with short-term implied volatility falling from recent highs into the low 30s range, as market sentiment shifts from panic hedging to relative calm. However, some institutions believe the data is not a one-sided "dovish signal." Accelerating wages and resilient consumer spending still support the Fed in maintaining a hawkish stance. The divergence between U.S. Treasury yields and stock market performance further indicates lingering disagreement over the policy path. (The Block)