{"id":433074,"date":"2026-07-05T06:36:24","date_gmt":"2026-07-05T01:06:24","guid":{"rendered":"https:\/\/dripp.zone\/news\/bitcoins-weekend-rally-faces-a-66k-trap-as-traders-still-hedge-for-another-drop-crypto-news\/"},"modified":"2026-07-05T06:47:27","modified_gmt":"2026-07-05T01:17:27","slug":"bitcoins-weekend-rally-faces-a-66k-trap-as-traders-still-hedge-for-another-drop-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoins-weekend-rally-faces-a-66k-trap-as-traders-still-hedge-for-another-drop-crypto-news\/","title":{"rendered":"Bitcoin\u2019s weekend rally faces a $66k trap as traders still hedge for another drop – Crypto News"},"content":{"rendered":"

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Bitcoin climbed back above $62,000 once a weak US jobs report cooled bets on a near-term Federal Reserve rate hike, and the spot chart reads as a relief rally. The options desks trading Bitcoin’s futures are pricing something more guarded.<\/p>\n

The US Bureau of Labor Statistics put June payroll growth at just 57,000, well below the 110,000 economists polled had penciled in.<\/p>\n

Labor-force participation slid to 61.5%<\/a>, the government cut April and May payrolls by a combined 74,000, and unemployment held steady at 4.2%.<\/p>\n

The dollar was on track for its biggest weekly drop since early April, while CME<\/a> FedWatch data showed roughly a 45% chance of a September hike<\/a> once the numbers landed.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n
Macro input<\/th>\nLatest reading<\/th>\nWhy it matters for Bitcoin<\/th>\n<\/tr>\n<\/thead>\n
June payroll growth<\/td>\n57,000<\/td>\nWeaker labor data reduced pressure for another Fed hike<\/td>\n<\/tr>\n
Reuters economist expectation<\/td>\n110,000<\/td>\nThe miss helped drive the relief bid<\/td>\n<\/tr>\n
April\/May payroll revisions<\/td>\n-74,000<\/td>\nReinforced the cooling-labor-market signal<\/td>\n<\/tr>\n
Labor-force participation<\/td>\n61.5%<\/td>\nAdded softness beneath the headline labor data<\/td>\n<\/tr>\n
Unemployment rate<\/td>\n4.2%<\/td>\nStable, but not enough to offset the payroll miss<\/td>\n<\/tr>\n
September hike odds<\/td>\n~45%<\/td>\nLower rate pressure supported risk assets<\/td>\n<\/tr>\n
Dollar trend<\/td>\nBiggest weekly drop since early April<\/td>\nSofter dollar created a tailwind for BTC<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

A softer dollar and lower odds of a hike gave crypto buyers the macro setup they wanted heading into the July 4 weekend.<\/p>\n

Options traders are still hedged, with Bitcoin puts trading at a premium<\/a> to call options on Deribit<\/a>, with the one-week 25-delta put-call skew near 16%. That’s down from 25% ten days earlier, evidence that the panic has eased.<\/p>\n

The premium shows hedging money crouched on the sidelines, ready to redeploy if Bitcoin slips.<\/p>\n

Laevitas data flagged a large Bitcoin options block<\/a> on July 17. The structure is a long call-option condor, built from long positions at $64,000 and $70,000 against short strikes at $66,000 and $68,000.<\/p>\n

In plain terms, that trade pays off most if Bitcoin<\/a> climbs, but only into the $66,000 to $68,000 band by expiration. Push past that range, or fall short of it, and the position loses value. The structure gives the weekend a visible range to watch, and works as a soft ceiling on how far this rebound can run before it meets resistance from someone else’s book.<\/p>\n