Bitcoin (BTC-USD) pushed above the $65,000 level for the fourth consecutive trading day Monday morning, climbing to $64,935.75 as of 8:43 a.m. ET amid renewed optimism around Federal Reserve policy following a weaker-than-expected July employment report. The leading cryptocurrency opened at $64,848.91, just 0.1% below Sunday's opening price, while Ethereum (ETH-USD) traded at $1,913.13 as of 8:46 a.m. ET after opening at $1,908.93, down 0.3% from the prior session.

Market Context

Broader risk appetite returned to markets Monday after Friday's July jobs report showed significantly fewer positions added than economists had projected. The unexpected labor market weakness triggered a recalibration of Fed rate hike expectations for September, with traders paring back bets on tighter monetary policy. Cryptocurrencies, which often trade inversely to U.S. dollar strength and Treasury yields, have benefited from the shift in rate expectations. Traditional markets were closed Sunday, leaving crypto trading to establish overnight ranges ahead of the new week.

The move comes as Ethereum continues to consolidate within a tight range around $1,910, unable to break out despite Bitcoin's continued flirting with the $65,000 level. The narrow ETH price band suggests institutional interest remains focused on BTC rather than rotating into altcoins at this juncture.

Analysis

The four-day run above $65,000 marks a notable technical milestone for Bitcoin, which has struggled to maintain footing above key psychological levels throughout much of 2026. Market participants attribute the current momentum to the Fed policy pivot narrative triggered by last week's employment data. When expectations for rate hikes diminish, traditional safe-haven demand for the dollar weakens, typically providing tailwinds for non-yield-bearing assets like Bitcoin.

On-chain metrics suggest accumulation patterns remain intact among longer-term holders, with exchange inflows staying subdued—indicating sellers are not rushing to liquidate positions despite the four-day run. Ethereum's relative underperformance compared to BTC reflects ongoing deliberation over network upgrade timelines and persistent questions about layer-2 scaling economics weighing on sentiment for the second-largest cryptocurrency by market capitalization.

Retail participation appears measured rather than euphoric, a contrast to previous Bitcoin rallies that coincided with heightened social media chatter and search volume spikes. This subdued retail enthusiasm could provide room for continued upside if institutional flows materialize through recently approved spot crypto ETFs.

Key Numbers

- Bitcoin opened at $64,848.91 on Monday, down 0.1% from Sunday's opening

- BTC traded to $64,935.75 as of 8:43 a.m. ET intraday high

- Ethereum opened at $1,908.93, down 0.3% from Sunday; reached $1,913.13 by 8:46 a.m.

- Bitcoin one-week performance: flat (0.0%)

- Bitcoin one-month performance: +2.6%

- Bitcoin one-year performance: -44.3%

- Ethereum one-week performance: +1.4%

- Ethereum one-month performance: +9.4%

- Ethereum one-year performance: -55.2%

What to Watch

Two key inflation reports are scheduled for release later this week, with the Consumer Price Index and Producer Price Index data set to provide fresh signals on whether price pressures remain elevated or have moderated sufficiently to support Fed easing in September. If inflation comes in hotter than expected, traders may quickly reverse their rate-cut bets, potentially pressuring Bitcoin back below $65,000.

Traders will monitor the $65,500 level as immediate resistance for BTC, with support anchored around the $63,500-$64,000 zone that has repelled selling pressure over the past week. Ethereum faces resistance at $1,950 and support near $1,850. Any breakdown below Bitcoin's 50-day moving average—currently sitting around $62,800—would signal a more meaningful reversal in short-term momentum.

Exchange flow data and stablecoin supply metrics will offer clues on whether this rally has staying power or risks fading if macro conditions shift unexpectedly.

Sources: Yahoo Finance, U.S. Bureau of Labor Statistics