Bitcoin surged past $62,000 in early July, triggering over $100M in short liquidations. Spot ETF inflows of $221M and soft US jobs data fueled the rally.

Bitcoin dropped below $58,000 on June 25 as $1.26B in crypto liquidations hit 209,000 traders. Here's what the macro data had to do with it.

Bitcoin bounced back above $61,000 after a U.S. jobs report triggered $1.6B in liquidations, with $534M tied to Bitcoin long positions alone.