Crypto markets ended the week in a firmer position after weaker U.S. jobs data lowered expectations for additional Federal Reserve rate hikes, while Uniswap rallied on news of a partnership with Robinhood.
Overall, the crypto sector closed stronger than it began, with bitcoin trading near $61,600 after rebounding about 6.5% from Tuesday’s near two-year low of $57,750.
Even so, bitcoin’s Friday gains were relatively modest compared with Thursday’s 2.6% advance, which was driven by soft U.S. labor data that further reduced the likelihood of Fed tightening.
Rate expectations continued to steer sentiment as U.S. markets headed into a long weekend. Ether extended its recovery for a third consecutive day, rising 11.5% since Tuesday and adding 2.6% on Friday alone. Several altcoins also posted gains, with ADA, ZEC, and DASH up roughly 2.2% to 3.1%.
Despite the rebound, the broader market structure remains tilted bearish, with most tokens still forming lower highs and lower lows. For bitcoin to confirm a trend reversal, it would need to reclaim $67,000 and then break above the May high near $81,000.
In derivatives markets, ether overtook bitcoin in liquidations, with $417 million in total crypto futures wiped out over 24 hours. Of that, $160.8 million came from ETH positions versus $97 million for BTC, highlighting heavier bearish positioning in ether.
Ether futures open interest stayed elevated at 14.31 million, the highest since June 10, alongside annualized funding rates near 10% and strong trading activity. This suggests growing demand for leveraged bullish exposure and expectations of further upside.
Dogecoin futures also saw increased activity, with open interest rising to 14.13 billion tokens, the highest since mid-May, pointing to renewed appetite for leverage similar to ether’s setup.
Meanwhile, tokens such as HBAR and ZEC showed weaker positioning, with HBAR recording the most negative 24-hour cumulative volume delta among majors—indicating more aggressive selling via market orders. Still, most tokens registered positive CVD overall, suggesting buyers remain dominant.
Volatility indicators continue to ease, as 30-day implied volatility for both bitcoin and ether declines after June’s spike, signaling calmer conditions that often support trend continuation.
Options markets on Deribit showed bullish bias, with bitcoin calls clustered between $60,000 and $70,000 and ether calls centered around $2,500. A large block trade also featured a BTC long call condor strategy targeting a $66,000–$68,000 range into mid-July.
In altcoins, Uniswap (UNI) led gains after confirmation it will act as the primary automated market maker for Robinhood’s layer-2 blockchain. UNI surged more than 11% in 24 hours, with trading volume doubling to $320 million following the announcement.
AI-linked tokens including FET, RENDER, and TAO also edged higher, gaining between 1.5% and 2.3% after recent weakness.
The broader altcoin market remains in neutral territory, with CoinMarketCap’s “Altcoin Season” index at 46/100, reflecting a lack of strong directional momentum as risk appetite stays mixed.
Solana (SOL) continues to stand out among majors, rising more than 17% over the past week to trade near $80, recovering sharply from lows around $68 earlier in the week.
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