TLDR
- Bitcoin climbed back above $60,000, up 3% on Thursday after a tough first half of 2026
- Bitcoin fell more than 30% in the first six months of 2026
- US stock futures dropped, with Nasdaq futures leading losses at 0.7%
- South Korean chipmakers SK Hynix and Samsung fell over 14% and 9% after a broader chip sector selloff
- All eyes are on the June nonfarm payrolls report, expected to show 115,000 jobs added
Bitcoin bounced back above $60,000 on Thursday, giving crypto traders a brief moment of relief after a brutal first half of the year.
The world’s largest cryptocurrency traded around $60,499, up about 3% in early trading. That comes after a more than 30% decline in the first six months of 2026, one of its worst half-year performances in recent memory.
The recovery came as traders positioned themselves ahead of the June US nonfarm payrolls report, due at 8:30 a.m. ET. The report is expected to show the economy added 115,000 jobs in June, with the unemployment rate holding steady at 4.3%.
Jobs Data Takes Center Stage
Federal Reserve Chair Kevin Warsh added to the cautious mood this week. He said inflation risks had eased but made clear he would stick to the Fed’s 2% inflation target. He also said he would “disappoint” anyone expecting loose monetary policy.
BIG POSITIVE signal from the Federal Reserve
Fed Chairman Kevin Warsh stated that inflation risks have eased significantly in recent weeks, reaffirming the central bank’s commitment to price stability.
If inflation continues to cool, expectations of rate cuts could… pic.twitter.com/4WcHeBgirE
— Yatin Mota (@yatinmota) July 1, 2026
Lower interest rates tend to support riskier assets like crypto, so traders are watching the jobs data closely for any sign that rate cuts could be back on the table.
Warsh told markets to look at the data, not the Fed, for guidance on where rates are headed. That put Thursday’s payrolls number front and center.
Bitcoin has struggled for much of 2026. Slowing institutional demand, limited progress on US crypto legislation, and uncertainty around US-Iran negotiations have all weighed on prices.
Crypto markets have also moved more closely in line with tech stocks and broader risk assets this year. That link was visible Thursday as both crypto and equities came under pressure together.
Stocks Slide as Chips Drag Markets Lower
US stock futures fell across the board on Thursday. Nasdaq 100 futures dropped 0.7%, the S&P 500 futures were down around 0.3%, and Dow futures edged 0.2% lower.
The tech sector faced extra pressure after a sharp selloff in South Korean chip stocks overnight. The Kospi index fell 7.9%.
SK Hynix dropped more than 14% and Samsung fell over 9%. Samsung had recently announced a large AI investment, which added to concerns about costs and returns in the chip space.
The weakness in Korean chipmakers followed a broader chip sector slump on Wednesday in US markets.
Despite Thursday’s bounce, Bitcoin remains well below its highs. Analysts say institutional flows and macro signals will continue to drive direction in the near term.
The jobs report could set the tone for both stocks and crypto heading into the summer.
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