Bitcoin Surges Past $65,000 Amid Weaker Jobs Report

Bitcoin (BTC) surged to nearly $65,000 on Monday, marking its highest level in recent weeks. The flagship cryptocurrency had a mixed weekend, falling below $62,743 before rebounding to $63,466 and eventually reaching the current price of over $65,000.

The upward momentum is attributed to several factors, including a weaker-than-expected jobs report that eased concerns about another interest rate hike and substantial inflows into Spot Bitcoin ETFs. Whale accumulation also provided support for the cryptocurrency.

Ethereum (ETH) and other cryptocurrencies traded positively, with ETH crossing $1,900 last week and reaching a day high of $1,932 on August 7. The world's second-largest cryptocurrency is currently trading at $1,925, just above its 100-day EMA of $1,924.