Crypto Market Live: Bitcoin Price Tops $64K After Trump’s Crypto Praise and Renewed Optimism
Bitcoin recently climbed above $64,000 in the past 24 hours—spiking to a daily high of $64,597—marking a notable short-term rebound amid broader market volatility.
This move represented a relief rally after recent pressures, with trading volume spiking and over $100–450 million in short liquidations helping propel the price upward through key resistance levels.
A primary catalyst was weaker-than-expected U.S. jobs data, which eased fears of aggressive Federal Reserve rate hikes. The economy added only about 57,000 jobs in June against forecasts near 113,000, with prior months revised downward. This softer labor market outlook weakened the dollar and Treasury yields, making risk assets like Bitcoin more attractive as expectations for monetary easing grew.
President Trump’s positive comments, describing himself as a “big crypto guy” and expressing support for the sector, further boosted sentiment and helped offset news of corporate Bitcoin sales by major holders like Strategy.
Despite the breakout, Bitcoin’s position remains dynamic, with the asset trading around the $63,000 level shortly after the surge and facing resistance near $64,500–$65,000. Spot ETF flows have shown mixed signals with recent outflows, and analysts note that while short squeezes drive quick gains, sustained upward momentum will likely depend on upcoming inflation data, Fed communications, and broader institutional demand.
