Bitcoin and Ethereum are climbing again after a brutal stretch. This bitcoin and ethereum bounce is the strongest crypto move in weeks. Traders now ask the obvious question. Is the bottom in?
The honest answer: nobody knows yet. But the setup has clearly shifted. This piece breaks down what changed, what the data shows, and which levels matter next.
What sparked the bitcoin and ethereum bounce
Two catalysts lined up this week. First, the June jobs report missed hard. The US economy added just 57,000 jobs, well below the roughly 115,000 expected, according to Yahoo Finance. Unemployment slipped to 4.2%.
Weak jobs data cooled expectations for tighter Fed policy. Risk assets liked that. Second, Qatari mediators reported positive progress on US-Iran talks in Doha, per FXStreet. Geopolitical fear eased, and buyers stepped back in.
The result was a squeeze. CoinDesk reported that bearish traders lost around $281 million in liquidations over 24 hours, nearly double the longs. Forced buying did the rest.
The numbers behind the move
Bitcoin pushed toward $62,000, its strongest level in two weeks, according to CoinDesk. Ethereum climbed close to 10% on the week. Solana ran even harder, up nearly 19%.
Context matters here. Bitcoin still sits far below its record. It printed an all-time high of $126,198 on October 6, 2025, per Yahoo Finance data. Near $62,000, it trades roughly half off that peak.
So this is a bounce inside a deep drawdown. That is not the same as a confirmed bottom. It is a start, not a signature.
Why Ethereum is leading
Ethereum outpaced Bitcoin during the bounce. That relative strength is worth watching. When capital rotates back into crypto, ETH often moves first thanks to its ecosystem depth and staking yield.
Flows are turning, but cautiously
Spot Bitcoin ETFs just snapped a 10-day outflow streak. CoinDesk noted a $221 million inflow, the strongest single day in two months. That breaks a rough run.
Still, temper the excitement. June was the worst month on record for Bitcoin ETFs, with about $4.5 billion in outflows, per Crypto Economy. Flows have whipsawed all year. One good day does not undo a quarter.
The bear case still standing
Plenty of caution remains. Citigroup just cut its Bitcoin target to $82,000 and its Ethereum target to $2,240, down from $112,000 and $3,175, according to Crypto Economy. Analysts are trimming, not chasing.
Sentiment agrees. The CoinMarketCap Fear and Greed Index sits in fear, recovering from readings near 11 only recently, per FXStreet. Extreme fear rarely flips to greed overnight.
Bitwise offered a more constructive read. It described the recent forced selling as a late-cycle leverage unwind rather than a structural break, and it suggested the cycle is nearing a bottom, per CoinDesk. That is encouraging, but it is not a green light.
Levels that matter now
Watch structure, not headlines. On the 3-day chart, Bitcoin has held above $60,000 without a confirmed close below, per cryptonews technical analysis. Lose that level with confirmation, and the next real support sits near $54,000 to $55,000.
To the upside, resistance clusters around $60,500 to $61,000. Liquidity pools sit above near $62,000 and $63,500. That overhead liquidity can pull price higher once resistance clears.
Ethereum is defending its $1,500 to $1,600 zone. It still trades below its 50-day EMA near $1,808. Reclaiming that area would strengthen the recovery case. Technical levels shift fast, so treat these as a map, not a promise.
So, is the bottom in?
Here is the balanced view. The macro trigger, the short squeeze, and the flow turn all point to easing pressure. Together they improve the odds of a low forming.
But fear still dominates. Analysts are cutting targets. And one green day is not a trend. A durable bottom needs follow-through: higher lows, sustained inflows, and a reclaim of key moving averages.
For now, the market is stabilizing, not confirming. Watch the levels, respect the risk, and let price prove itself.
Disclaimer: This article is for informational and educational purposes only. It does not constitute financial, investment, or trading advice. Crypto assets are volatile and carry significant risk. Always do your own research and consider your risk tolerance before trading. Read more on Millionero Blog.
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