CoinDesk reported that Bitcoin rose toward $62,000 on July 3, 2026, as Ether and Solana posted gains amid a short squeeze that liquidated $281 million of bearish positions in the previous 24 hours. The rally marked the market's strongest weekly gain since mid‑June, with Bitcoin up 2.5% to $61,360, Ether up 4.2% to about $1,702, and Solana up 18.6% to near $80, CoinDesk data showed. U.S. June employment data came in weaker than expected, reducing expectations of further Federal Reserve rate hikes and weakening the dollar, Bloomberg reported, which supported risk assets such as Asian equities. CoinGlass data indicated that $281 million in short positions were liquidated over the past 24 hours, compared with $159 million in long positions, out of $440 million in total forced closures involving 95,690 traders. The largest single liquidation was an $18.2 million ether position on Hyperliquid, representing $157 million of bearish liquidations against $103 million for bitcoin shorts, according to Coinglass. Analysts said the rapid price increase resulted from forced buying as short sellers covered positions, but they noted the move may not indicate sustained demand, as spot bitcoin ETFs continued to see record monthly outflows and liquidity remained thin heading into the third quarter. Zcash's Tachyon upgrade, announced on June 30, 2026, aims to scale shielded payments, improve quantum readiness, and test funding, security, and governance mechanisms, according to a project report. Whether the short‑covering rally will translate into longer‑term demand remains unclear as the market faces thin liquidity and ongoing ETF outflows.