Bitcoin price returns to $60K as US dollar strength rejects weekly high
Cointelegraph 2026-07-01 16:47:01
Context: Bitcoin's price surged above $60,000 as July began, driven by trader predictions of a relief rally throughout the month. The cryptocurrency's value increased significantly, reclaiming the $60,000 mark. This price movement occurred as the US dollar's strength showed signs of rejection from its weekly high.
Key Facts
- Bitcoin's price rose above $60,000 on July 1, marking a significant increase in value.
- Traders are predicting a relief rally as the "base case" throughout July, indicating a potentially positive trend for the cryptocurrency.
- The US dollar's strength was rejected from its weekly high, which may have contributed to Bitcoin's price surge, as the two assets often exhibit an inverse relationship.