Bitcoin Rebounds to $61,600 as Ether Squeeze Boosts Crypto Prices

What to Know

• Bitcoin recovered to $61,600 after falling to $57,750 earlier in the week.
• Weak U.S. jobs data reduced expectations for a near-term Federal Reserve rate hike and helped lift Nasdaq 100 futures.
• Ether accounted for the largest share of 24-hour liquidations as bearish positioning was forced out of the market.
• ETH open interest rose to its highest level since June 10, while funding rates turned supportive and spot volume strength improved.
• Uniswap surged after confirmation that it will serve as the primary automated market maker for Robinhood’s layer-2 network.
• Solana extended its weekly advance, while FET, RENDER and TAO posted smaller gains after prolonged selling pressure.

Bitcoin Finds Relief After a Soft Labor Report

Bitcoin staged a steady recovery through the latest trading session, climbing to $61,600 after briefly sliding to $57,750 earlier in the week. The rebound reflected a broader shift in risk sentiment after weaker-than-expected U.S. jobs data reduced concerns that the Federal Reserve would maintain a more aggressive policy stance.

That macro backdrop gave stocks and digital assets a lift, with Nasdaq 100 futures rising 1.9% as traders priced in a less hawkish outlook. For Bitcoin, the move was not a decisive trend change, but it did help the market recover some of the ground lost during the week’s earlier selloff.

Ether Takes the Lead in the Derivatives Market

Ether became the focal point for derivatives traders as the market unwound heavily bearish positioning. Of the $417 million in liquidations over the past 24 hours, ETH accounted for $160 million, underscoring how concentrated the move had become among traders betting against a rebound.

Open interest in Ether futures climbed to its highest level since June 10, a sign that traders were re-engaging the market rather than stepping aside. Supportive funding rates and the strongest cumulative volume delta among major cryptocurrencies suggested that buyer participation improved as short positions were forced to cover.

While liquidation-driven rallies can fade quickly, the scale of the squeeze indicated that sentiment around ETH had become too one-sided in the short term. If derivatives positioning remains balanced, Ether may have a better chance of building a more durable recovery.

Uniswap Stands Out on Robinhood Network News

Among altcoins, Uniswap delivered the sharpest move of the day. UNI jumped 11% on roughly doubled trading volume after confirmation that it will act as the primary automated market maker for Robinhood’s layer-2 network. The announcement gave traders a clear catalyst and linked one of crypto’s best-known decentralized exchange tokens to a major consumer brokerage brand.

The move matters because it ties Uniswap more directly to an expanding distribution channel and reinforces its role in onchain trading infrastructure. Increased liquidity and attention around the partnership helped UNI break higher even as broader market conditions remained uneven.

Solana Extends Weekly Strength

Solana continued to outperform on a weekly basis, extending its advance to 17%. The token’s resilience stood out in a market that had spent much of the prior stretch under selling pressure, and it helped reinforce the view that capital was rotating toward higher-beta names with stronger relative momentum.

Solana’s gains also reflected its persistent appeal among traders looking for networks with active user growth, liquid markets and strong ecosystem engagement. Even so, the token remains sensitive to broader market risk appetite, meaning sustained upside will likely depend on the recovery holding across the wider crypto complex.

AI Tokens Show Early Signs of Stabilization

AI-linked tokens FET, RENDER and TAO posted modest gains after weeks of weak price action. The move did not signal a full reversal, but it did suggest that parts of the sector may finally be finding support after a prolonged period of selling pressure.

For speculative narratives such as AI, the near-term question is whether the bounce is supported by renewed flows or simply a short-covering response to oversold conditions. Traders will likely watch volume and follow-through closely before assuming a broader trend change.

What the Market Is Saying

Overall, the session pointed to a crypto market that is still structurally fragile but capable of sharp rebounds when macro conditions improve. Weak labor data reduced pressure on growth assets, and that was enough to trigger a broad relief move in Bitcoin, Ether and several leading altcoins.

At the same time, the underlying picture has not fully reset. Bears still appear to hold the structural advantage until spot demand proves it can absorb volatility without relying on liquidations or short squeezes. FXCOINZ will continue to track whether this recovery develops into a lasting trend or fades once the initial macro-driven impulse passes.

Frequently Asked Questions (FAQs)

Why did Bitcoin rebound this week?

Bitcoin recovered after weak U.S. jobs data lowered expectations for a more aggressive Federal Reserve stance, improving sentiment across risk assets.

How high did Bitcoin rise?

Bitcoin climbed back to $61,600, roughly 6.5% above Tuesday’s low of $57,750.

Why was Ether so active in the derivatives market?

Ether was hit by a large short squeeze, with bearish traders forced out as open interest rose and funding rates turned more supportive.

How much of the liquidation total did ETH represent?

Ether accounted for $160 million of the $417 million in total 24-hour liquidations.

What triggered Uniswap’s price jump?

UNI rallied after confirmation that Uniswap will be the primary automated market maker for Robinhood’s layer-2 network.

Why is Solana being watched closely?

Solana has extended its weekly gain to 17%, making it one of the strongest large-cap performers in the current recovery.

Are AI tokens recovering meaningfully?

FET, RENDER and TAO posted small gains, but the move is better viewed as an early stabilization attempt rather than a confirmed trend reversal.

Does this mean the crypto market is fully bullish again?

Not yet. The latest move is best described as a relief rally, and the market still needs stronger spot demand to prove that a lasting uptrend is underway.

What should traders watch next?

Traders will likely focus on whether Bitcoin can hold above recent support, whether Ether’s derivatives positioning normalizes, and whether altcoin strength broadens beyond a few isolated names.

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