{"id":412,"date":"2026-06-05T15:04:43","date_gmt":"2026-06-05T15:04:43","guid":{"rendered":"https:\/\/1stblock.info\/?p=412"},"modified":"2026-06-05T15:04:44","modified_gmt":"2026-06-05T15:04:44","slug":"bitcoin-slides-below-62k-as-blowout-may-jobs-data-kills-fed-rate-cut-hopes-for-2026","status":"publish","type":"post","link":"https:\/\/1stblock.info\/?p=412","title":{"rendered":"Bitcoin slides below $62K as blowout May jobs data kills Fed rate-cut hopes for 2026"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>BTC<\/strong> fell below <strong>$62,000<\/strong> on Friday after the U.S. Bureau of Labor Statistics reported <strong>172,000<\/strong> nonfarm payrolls for May \u2014 more than double the consensus estimate of <strong>85,000<\/strong> \u2014 and revised April&#8217;s figure up to <strong>179,000<\/strong>, <em>according to Trading Economics<\/em>. The data eliminated the last credible near-term argument for a Federal Reserve rate cut in 2026.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Derivatives markets repriced immediately. Odds of a December rate hike jumped to <strong>61%<\/strong> from <strong>45%<\/strong> within an hour of the release, <em>per investinglive<\/em>. The 10-year Treasury yield climbed <strong>4 basis points<\/strong>, and the dollar index ticked higher. Job gains were concentrated in leisure and hospitality (<strong>+70,000<\/strong>), local government (<strong>+55,000<\/strong>), and health care (<strong>+35,000<\/strong>), pointing to broad-based labor resilience rather than a narrowly driven number.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For crypto, the report compounds an already difficult macro setup. U.S. spot <strong>BTC<\/strong> ETFs have now recorded 11 consecutive sessions of net outflows totaling over <strong>$4.2 billion<\/strong>, and <strong>ETH<\/strong> spot products have shed roughly <strong>$2.6 billion<\/strong> since May 11, <em>according to Farside Investors<\/em>. Analysts at Presto Research noted this year&#8217;s pattern: <strong>BTC<\/strong> drawdowns have consistently coincided with rallies in AI and gold as markets scale back Fed easing expectations \u2014 a dynamic that Friday&#8217;s jobs print reinforces.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Bitcoin<\/strong> opened the day at <strong>$63,812<\/strong> and continued lower through the morning session. The broader crypto market cap fell <strong>6.26%<\/strong> to approximately <strong>$2.17 trillion<\/strong> over the two-day stretch, <em>per CoinMarketCap<\/em>. Derivatives show no signs of trend reversal: put skews remain elevated on both <strong>BTC<\/strong> and <strong>ETH<\/strong>, and the <strong>$60,000<\/strong> strike put on Deribit carries over <strong>$1 billion<\/strong> in notional open interest.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The next scheduled macro catalyst is the FOMC meeting and CPI release, which will determine whether the rate-hike repricing triggered by today&#8217;s data represents a lasting shift or a temporary overreaction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BTC fell below $62,000 on Friday after the U.S. Bureau of Labor Statistics reported 172,000 nonfarm payrolls for<\/p>\n","protected":false},"author":2,"featured_media":413,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/posts\/412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=412"}],"version-history":[{"count":1,"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/posts\/412\/revisions"}],"predecessor-version":[{"id":414,"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/posts\/412\/revisions\/414"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=\/wp\/v2\/media\/413"}],"wp:attachment":[{"href":"https:\/\/1stblock.info\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1stblock.info\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}