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Crypto

Bitcoin rebounds after breaking below $60,000; focus on AI funding shift and rate outlook

Bitcoin fell below $60,000 for the first time since last October and rebounded to around $63,000 on bargain buying. The broader crypto market slid, with heavy liquidations. Investors focused on stronger U.S. jobs data that pushed back rate-cut expectations, and on large AI-related fundraisings seen as drawing money from risk assets. Decrypt reported Strategy sold bitcoin for the first time in four years, hurting sentiment, while spot crypto ETFs saw outflows.

Crypto

Bitcoin selling pressure persists as rate burden grows on strong U.S. jobs data

Bitcoin extended a six-day decline, moving closer to a retest of $60,000. Cointelegraph reported the drop deepened after the U.S. stock market opened, leaving bitcoin down about 16 percent over a week. Traders cited continued sell-side dominance and weakening short-term charts, though some indicators suggested selling was easing. Stronger-than-expected U.S. May jobs data and upward revisions to April payrolls added to pressure by reducing expectations for Federal Reserve rate cuts.

Crypto

Bitcoin nears drop below $60,000 on U.S. jobs shock renewing rate hike fears

Bitcoin is on the verge of breaking below $60,000, sliding 2.78 percent to $61,538, while ether fell 8.96 percent to $1,599. The selloff followed a stronger-than-expected May U.S. nonfarm payrolls report and rising odds of a Federal Reserve rate hike on Polymarket and CME FedWatch. Spot bitcoin ETFs saw 13 straight sessions of net outflows, and Mt. Gox transfers fueled selling concerns.