Svmuu News Bitcoin fell as low as $57,779 on Wednesday—its lowest level since September 2024—before rebounding 2.8% to around $60,000.This rebound came after U.S. employment and manufacturing data came in weaker than expected and Fed Chair Kevin Warsh did not explicitly signal a willingness to raise interest rates.

ADP data showed that the U.S. private sector added 98,000 jobs in June, down from 122,000 in May and below market expectations; the ISM Manufacturing Index fell from 54 to 53.3, while the Prices Paid Index dropped from 82.1 to 73.The yield on the two-year U.S. Treasury note closed flat at 4.15%.

SoSoValue data showed that the U.S. spot Bitcoin ETF saw outflows of $4.5 billion in June, setting a record for monthly outflows. Glassnode data indicated that long-term holders have returned to an accumulation phase, with the proportion of buy orders in the spot order books for Binance and Coinbase on the rise.