A weaker-than-expected US jobs report has reshaped Bitcoin's short-term outlook, with June payroll growth of just 57,000 cooling expectations of a near-term Federal Reserve rate hike. That data helped push Bitcoin back above $62,000, and the spot chart resembles a relief rally after recent weakness. However, options desks trading Bitcoin futures appear more cautious than the price action suggests. Traders are still hedging against another decline rather than committing fully to further upside, signaling doubts about the rally's durability. Analysts point to a potential resistance zone near $66,000 that could cap gains and trap late buyers. The divergence between an optimistic spot market and defensive derivatives positioning underscores lingering uncertainty about macroeconomic conditions and the strength of any sustained recovery, as market participants weigh softer labor data against broader risk sentiment heading into the coming week.
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