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The US economy added 172,000 jobs in May, more than double the 80,000 that Wall Street economists had expected, and the unemployment rate held at 4.3%. The Bureau of Labor Statistics (BLS) also revised March and April higher by a combined 93,000 positions, which left the spring looking much stronger than anyone believed a month […] The post May jobs report explained: Why 172,000 jobs means higher rates, pricier loans, and a Bitcoin drop appeared first on CryptoSlate.

Bitcoin fell as low as $59,227 overnight before recovering, steadying after Friday's strong jobs report set off a selloff that sank the Nasdaq 100 about 5% and rattled stocks, bonds and crypto together.

A group of Republican senators is warning US bank regulators that a little-known capital rule could effectively keep banks out of Bitcoin, even as Congress moves to give traditional financial firms a larger role in digital asset markets. In a May 27 letter to Federal Reserve Vice Chair for Supervision Michelle Bowman, FDIC Chair Travis […] The post A little-known 1,250% rule could lock US banks out of Bitcoin appeared first on CryptoSlate.

ETH price crashed below $1,600 as a vulnerability in Zcash emerged and Bitcoin sold off below $60,000 for the first time in months. Key takeaways: Ether (ETH) plummeted to a 13-month low of $1,540 on Friday, following the bearish trend across the broader cryptocurrency market. Traders now fear a deeper price correction, given weakness in ETH derivatives metrics and heightened risk after a bug was found in the Zcash blockchain. Read more

Bitcoin bears piled into short positions as BTC price slid to $60,000. Will the $2.6 billion in short leverage lead to an upside squeeze? Key takeaways: The Bitcoin (BTC) crash to $61,100 on Friday wiped out $335 million in leveraged long positions. However, after a 21% decline in Bitcoin's price, bulls might have set a perfect trap as negative market sentiment intensified. Bearish positions built up heavily between $63,000 and $66,000, setting the stage for a potential $2.6 billion short squeeze. Estimated cumulative Bitcoin liquidation at major exchanges, USD. Source: CoinGlass Read more

Michael Saylor’s essay calls for Bitcoin to expand through banks, credit, securities and higher layers while preserving its base layer. Strategy co-founder and executive chairman Michael Saylor said Bitcoin needs “disciplined expansion” through banks, companies, securities, credit and capital markets, laying out a path for the asset as spot exchange-traded fund (ETF) outflows and a broader market sell-off test institutional demand. On Friday, Saylor published an essay, saying Bitcoin’s base layer should be treated as “sacred infrastructure,” with most innovation occurring through higher layers, applications, custody systems, credit instruments and financial infrastructure. The comments frame Bitcoin’s next phase as a clash between two institutional channels: passive spot ETF exposure, which has broadened access but remains sensitive to redemptions, and the corporate and credit-market adoption model favored by Saylor’s Strategy. Read more

Bitcoin traders have identified Michael Saylor as a new suspect in the latest sell-off, while the numbers tell a different story. Strategy disclosed in a June 1 Form 8-K that it sold just 32 BTC between May 26 and May 31 for $2.5 million, at an average net price of $77,135, with proceeds earmarked to […] The post Bitcoin traders blamed Saylor’s 32 BTC sale but larger selling pressure built elsewhere appeared first on CryptoSlate.

The May payrolls beat was hawkish enough to pressure crypto, while government hiring and cooler yearly wage growth keep the second interpretation from being one-way. The post Bitcoin price craters to $60,000 as BTC bulls get jobs report they were hoping to avoid appeared first on CryptoSlate.

Bitcoin sellers were losing steam, market analysis said as ongoing BTC price downside brought the market closer to $60,000. Bitcoin (BTC) extended losses after Friday’s Wall Street open as traders prepared for a retest of $60,000. Key points: Read more

Bitcoin whales flipped to support a BTC price rebound, but analysis warned that the Coinbase and Kimchi Premium still needed to return. Bitcoin (BTC) has fulfilled two of three key conditions to spark the next BTC price “rally,” new analysis says. Key points: Read more

Bitcoin’s downside targets cluster near $50,000, but a larger weekly bearish setup puts a deeper correction toward $33,000 on the radar. Bitcoin (BTC) is heading for its worst weekly performance since November 2022, down around 15% week-to-date as of Friday. BTC/USD weekly chart Source: TradingView Read more

Apyx's apxUSD fell below its dollar reference on June 4 as Bitcoin traded near $63,000, putting DeFi dollar peg risk back in focus. A Bitget report said the token briefly touched $0.93 during the selloff. The report framed Apyx's response as a design point: apxUSD's reserve risk is largely borne by Strategy's STRC preferred stock, […] The post A stablecoin tied to Strategy stock depegs putting a new DeFi dollar risk in focus as Bitcoin sells off appeared first on CryptoSlate.

Bitcoin just tested an intraday low of $61,349, triggered roughly $1.76 billion in liquidations with long positions absorbing more than $1.5 billion of that total, and then bounced toward the mid-$63,000s. Funding rates flipped deeply negative, open interest reset sharply, and the Crypto Fear & Greed Index fell to 12, a level in extreme fear […] The post Bitcoin crashed and flushed leverage out, but is the bottom here yet? appeared first on CryptoSlate.

“Less Bitcoin on levered DAT balance sheets and more on diversified corporate balance sheets will be a positive,” said Grayscale’s head of research, Zach Pandl. Strategy’s leveraged Bitcoin model is stressed, which could limit the firm’s ability to keep buying BTC and potentially force further sales, according to Grayscale. “The shift in approach from one of the world’s largest BTC holders has weighed on market sentiment,” said Zach Pandl, Grayscale’s head of research, on Thursday.  Michael Saylor’s Strategy sold 32 BTC on Monday, a tiny fraction of its total holdings of 843,706 BTC, but enough to rattle market sentiment as the asset has tanked by 16% since the sale.  Read more

Bitcoin price collapsed as Strategy faced tighter liquidity conditions and paused its BTC buying. Is it time to jump ship, or buy the dip? Key takeaways: Bitcoin (BTC) faced a 21% price correction in 10 days, retesting the $61,000 level for the first time in 4 months. This movement coincided with Strategy (MSTR US) company's decision to buy back some corporate debt, temporarily pausing its Bitcoin accumulation. Traders now fear that Strategy could be forced to liquidate some of its Bitcoin holdings. Read more

A Casascius coin tied to 25 BTC moved this week, converting a 2011 physical Bitcoin artifact into spendable BTC during a broader market selloff. Galaxy Research identified the item as an S1-COIN-25 Casascius physical Bitcoin, a large-denomination piece from the era when Bitcoin could still be handed across a table as a loaded coin. The […] The post A 2011 physical Bitcoin loaded with 25 BTC was just unlocked during the $62k selloff appeared first on CryptoSlate.

Bitcoin continued "incredible" 2022 bear market repeat behavior as sellers kept control over BTC price rebound attempts. Bitcoin (BTC) returned below $64,000 after Thursday’s Wall Street open as bulls nursed 13.5% weekly losses. Key points: Read more

Bitcoin is enduring a multi-front assault on its spot market liquidity as exchange-traded funds, short-term speculators, and cryptocurrency miners simultaneously distribute assets. This coordinated selling pressure has drained market demand at the fastest pace since the 2022 collapse of the Terra/Luna ecosystem. As a result, BTC's price has tanked 12% over the past week, pushing […] The post Bitcoin’s selloff is creating the short-heavy setup that could reverse it fast appeared first on CryptoSlate.

Strategy’s Bitcoin paper loss tops $11 billion as Saylor pointed to ETF outflows and AI infrastructure spending as factors pressuring BTC. Strategy’s Bitcoin holdings fell deep into paper-loss territory as BTC traded below the company’s average purchase price, renewing scrutiny of Michael Saylor’s Bitcoin treasury model. Strategy holds 843,706 Bitcoin (BTC) acquired at an average price of $75,699 per coin, with a total cost basis of $63.8 billion. However, the latest Bitcoin downturn sank the value of Strategy’s Bitcoin reserve to $52.6 billion, pushing its unrealized loss to $11.2 billion, according to the company’s dashboard. Strategy’s variable-rate perpetual preferred stock, STRC, has also declined below its intended $100 value and is traded at $94.6 at the time of writing. Strategy's (MSTR) stock price was down 1.5% in pre-market trading to $124.7 on Thursday, Yahoo Finance data shows. Read more

Bitcoin’s relationship with the S&P 500 has stopped behaving like a simple correlation trade at exactly the wrong time for bulls. For much of 2026, the logic was clean enough. When oil jumped during the Iran war, yields rose amid inflation fears, stocks sold off, and Bitcoin followed, as the market treated BTC as a […] The post Bitcoin’s $63k slide shows ETF demand fighting AI equities for dollar liquidity appeared first on CryptoSlate.