{"id":319008,"date":"2024-06-07T22:14:37","date_gmt":"2024-06-07T16:44:37","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=319008"},"modified":"2024-06-07T22:14:37","modified_gmt":"2024-06-07T16:44:37","slug":"crypto-markets-dip-following-strong-may-jobs-report-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/crypto-markets-dip-following-strong-may-jobs-report-crypto-news\/","title":{"rendered":"Crypto Markets Dip Following Strong May Jobs Report – Crypto News"},"content":{"rendered":"

<\/p>\n

Bitcoin is consolidating around $71,000, while Ethereum and Solana dropped by 1%.<\/p>\n

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Crypto markets traded lower on Friday morning after a stronger-than-expected May jobs report dampened the prospects of an imminent rate cut from the Federal Reserve.<\/p>\n

Bitcoin continues to trade in a tight range around $71,000. Meanwhile, Ethereum, Solana and Polkadot declined by 1%.<\/p>\n

<\/p>\n

BTC Price<\/figcaption><\/figure>\n

<\/a><\/p>\n

The U.S. economy added 272,000 jobs in May, well above the 190,000 forecasted by Dow Jones and April\u2019s 175,000, according<\/a> to the Bureau of Labor Statistics. The unemployment rate nudged up to 4%, with health care, government, leisure and hospitality, and professional and technical services driving job growth.<\/p>\n

Investors were hoping for weaker job numbers that would give the Federal Reserve the leeway to reduce interest rates.<\/p>\n

The Federal Reserve will announce its next decision on interest rates following its June 11-12 policy meeting. Most market participants expect the central bank to leave rates unchanged.<\/p>\n

On June 6, spot Bitcoin ETFs saw a total net inflow of $218 million. BlackRock’s IBIT had a single-day inflow of $350 million, while Grayscale’s GBTC reported an outflow of $37.5 million, according to data<\/a> from ETF tracker Sosovalue.<\/p>\n

U.S. stock futures were trading flat heading into the weekend. The Dow, Nasdaq and S&P 500 rose 0.1%. Meanwhile, the yield on the 10-year Treasury rose to 4.42%.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin is consolidating around $71,000, while Ethereum and Solana dropped by 1%. Crypto markets traded lower on Friday morning after a stronger-than-expected May jobs report dampened the prospects of an imminent rate cut from the Federal Reserve. Bitcoin continues to trade in a tight range around $71,000. Meanwhile, Ethereum, Solana and Polkadot declined by 1%. […]<\/p>\n","protected":false},"author":2,"featured_media":319010,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-319008","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/319008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=319008"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/319008\/revisions"}],"predecessor-version":[{"id":319012,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/319008\/revisions\/319012"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/319010"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=319008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=319008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=319008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}