Bitcoin Spikes Near $64,000 as Short Sellers Get Liquidated

Bitcoin (BTC) jumped to nearly $64,000 early July 6, hitting $63,900 on CoinGecko and extending a weekend rally that liquidated hundreds of millions of dollars in shorts. The move followed a rebound from the $58,293 low on July 1, according to BeInCrypto, after a softer-than-expected US Nonfarm Payrolls report showed 57,000 jobs added in June, easing near-term Fed rate-hike expectations. Traders lost over $450 million in short positions as BTC broke above $62,000. Ether rose about 4% on the day and roughly 10% over the week, while Solana gained nearly 19%. Spot Bitcoin ETF inflows reversed, snapping a 10-day streak of redemptions, though funds are still digesting June outflows of $4.5 billion.