Bitcoin Retreats After Rebounding to Nearly $63,900

Bitcoin’s recent moves have been driven by the U.S. labor market and interest-rate expectations. Weaker employment data eased concerns that the Federal Reserve would keep rates high, briefly drawing funds back into risk assets. But continued uncertainty over the policy outlook left the cryptocurrency’s rebound without sustained momentum.

Early this week, Bitcoin climbed as high as $63,882, close to the $63,900 peak cited in related reports. The rally then reversed, sending the cryptocurrency back to about $62,900. Although the latest U.S. employment data temporarily eased pressure from interest rates, buying failed to persist, leaving Bitcoin about $982 below its high.