Bitcoin Drops to $57,779, Surges 2.8% to $60,000 on Weaker-Than-Expected US Jobs Data

According to Odaily, Bitcoin dropped to $57,779 on Wednesday, marking its lowest point since September 2024, before rebounding 2.8% to around $60,000. The recovery followed weaker-than-expected U.S. employment and manufacturing data, with the ADP reporting 98,000 private sector jobs added in June versus expectations of higher figures, and the ISM Manufacturing Index declining to 53.3.

SoSoValue data showed U.S. spot Bitcoin ETFs experienced a $4.5 billion monthly outflow in June, marking a record for monthly withdrawals. Meanwhile, Glassnode data indicated long-term holders re-entered accumulation mode, with buy-side order book dominance rising on Binance and Coinbase.