Bitcoin Recovers Toward $62,000 as Rate-Hike Fears Ease

Bitcoin traded near $62,000, recovering from lows reached last week, the Economic Times reported. The rebound was supported by optimism that the Federal Reserve will not tighten policy as aggressively as feared. Ethereum and other large tokens also gained. The move follows a difficult stretch. Bitcoin had entered the second half of 2026 near $60,000 after touching a 21-month low around $58,000, according to Fortune's price coverage.

The recovery follows the same factor moving gold and the dollar. The weak June jobs report reduced the market-implied odds of a near-term rate increase, which tends to support assets that pay no yield. The Economic Times noted that traders remain cautious, weighing inflation, geopolitical risk, energy prices and uneven flows into exchange-traded funds.

For an asset built around a fixed supply, the pattern is familiar. Bitcoin sold off most heavily when higher-for-longer expectations lifted real yields and the dollar, then attracted buyers again as soon as that expectation weakened. The same doubts about state money that support gold also underpin the case for a non-sovereign, supply-capped asset. Both trade on the market's shifting confidence in how long central banks can hold policy tight.