The crypto market stabilizes ahead of the US Independence Day holiday, with bitcoin entering a consolidation and recovery phase.

Odaily reports that ahead of the U.S. Independence Day holiday, crypto market sentiment has gradually stabilized, with Bitcoin remaining above $61,000 and Ethereum climbing above $1,700, continuing the rebound from the previous day. Earlier, unexpectedly weak U.S. nonfarm payroll data eased expectations of further Fed tightening and reignited demand for risk assets. Volatility in the options market has clearly declined, with short-term implied volatility dropping from its peak to the high 30s, and market sentiment shifting from panic-driven hedging to relative calm. However, some institutions believe the data does not represent a unilateral “dovish signal,” as accelerating wage growth and resilient consumption still support the Fed’s relatively hawkish stance. The divergence between U.S. Treasury yields and U.S. equities further indicates ongoing market disagreement over future policy directions. (The Block)