Woofun AI reports that Bitcoin briefly dipped below the $58,000 support level to a low of approximately $57,700 before reclaiming the $60,000 mark after U.S. June non-farm payroll data missed expectations. Ethereum demonstrated stronger resilience, rising above $1,700 and gaining nearly 10% from its mid-week trough.

Options markets absorbed prior panic as short-term implied volatility declined and term structure shifted to contango, with July bullish options dominating trades.

However, accelerating wage growth and falling unemployment indicate the Federal Reserve retains room for a hawkish stance. Despite Bitcoin spot ETFs recording $224 million in net inflows, the absence of broad-based risk-on signals in equities and bonds suggests this crypto rally remains temporary.