hodler

5 Jun 2026, 17:05

Bitcoin slid below $60,000: why is the crypto market crashing?

Bitcoin (BTC) extended its steep decline on Friday, falling to its lowest level since October 2024. The fall came as a combination of selling pressure, weak market demand, and shifting macroeconomic expectations drove another wave of losses across the cryptocurrency market. The world's largest cryptocurrency fell 5% to $60,750, after earlier touching $59,764.90. The move leaves Bitcoin down roughly 17% for the week and more than 52% below its all-time high of about $126,000 reached in October 2025. The weakness spread across crypto-linked equities. Shares of Coinbase, Circle, and Strategy each fell about 8% on Friday, while Strategy was down roughly 25% for the week. Strategy sale and ETF outflows weigh on sentiment The selloff began after Michael Saylor's Strategy (formerly MicroStrategy) sold a small portion of its Bitcoin holdings , a move that weighed on investor sentiment and triggered hundreds of millions of dollars in liquidations across crypto markets. The decline was compounded by persistent outflows from spot Bitcoin exchange-traded funds, which had previously been one of the strongest drivers of institutional demand for the cryptocurrency. Bitcoin ETFs collectively recorded a net inflow of just $3 million on Thursday, ending a 13-session streak of outflows, the longest such streak on record. Total net assets across Bitcoin ETFs fell to $80.4 billion from $107.8 billion on May 14. Several analysts also pointed to a broader rotation of capital away from cryptocurrencies and toward artificial intelligence-related investments. Meanwhile, CryptoQuant data showed spot crypto trading volume fell to $679 billion in April, the lowest monthly level since October 2023, suggesting a continued lack of demand across the market. Macro pressures add to selling Cryptocurrencies came under additional pressure after a stronger-than-expected US jobs report on Friday prompted investors to reassess the outlook for interest rates. The labor market data pushed Treasury yields higher and weighed on risk assets broadly. The Nasdaq was down more than 2% on Friday, while investors increasingly shifted away from expectations of interest-rate cuts. Market participants have now largely priced in the Federal Reserve's next move as a rate hike, reflecting concerns that inflation remains elevated and the labor market continues to show resilience. The changing rate outlook has reduced appetite for speculative assets, including cryptocurrencies. Bitcoin narratives face new questions Bitcoin's recent weakness has also coincided with a divergence from traditional market behavior that many investors expected. While geopolitical uncertainty surrounding the Iran war has weighed on Bitcoin in recent months, US equity markets have continued reaching record highs. That divergence has led some investors to question two of bitcoin's dominant investment narratives: its role as a form of "digital gold" during periods of geopolitical uncertainty and its tendency to trade as a high-beta technology asset during risk-on market environments. At the same time, progress on a major legislative catalyst for the industry has stalled. The Clarity Act, a proposed crypto market structure bill that many investors viewed as a potential driver of renewed institutional participation, appears increasingly uncertain as lawmakers remain divided on key provisions and legislative priorities shift elsewhere. Altcoins suffer deeper losses The broader cryptocurrency market experienced even sharper declines than Bitcoin. Ether fell to its lowest level since April 2025, when it previously found support near $1,420 before rallying to record highs later that year. A break below that level could bring prices closer to levels last seen during the 2022 crypto bear market. Among individual tokens, privacy-focused cryptocurrency Zcash was one of the week's worst performers . Zcash plunged more than 30% on Friday, with losses at one point exceeding 40%, after a security researcher identified a vulnerability that could have enabled the creation of unlimited tokens within its shielded pool. The discovery has also intensified broader discussions within the crypto industry about potential vulnerabilities as artificial intelligence systems become increasingly capable of identifying flaws in software and cryptographic protocols. The post Bitcoin slid below $60,000: why is the crypto market crashing? appeared first on Invezz

5 Jun 2026, 16:40

Canadian Dollar Slides Against Greenback Despite Strong Jobs Data as US NFP Surprises to the Upside

BitcoinWorld Canadian Dollar Slides Against Greenback Despite Strong Jobs Data as US NFP Surprises to the Upside The Canadian dollar weakened against its US counterpart on Friday, giving up earlier gains even after a solid domestic employment report, as the latest US nonfarm payrolls (NFP) data significantly exceeded market expectations. The loonie struggled to hold its ground, underscoring the persistent divergence in labor market momentum between the two economies. Diverging Labor Market Signals Canada’s economy added 41,000 jobs in January, well above the consensus estimate of 15,000, while the unemployment rate held steady at 5.8%. The data pointed to continued resilience in the Canadian labor market, defying expectations of a slowdown. However, currency traders quickly shifted focus south of the border, where the US economy added 353,000 jobs in January, more than double the forecast of 185,000. The US unemployment rate remained at 3.7%, and average hourly earnings rose 0.6% month-over-month, stoking fears of persistent inflationary pressures. The stark contrast in labor market performance reinforced expectations that the Federal Reserve will maintain a tighter monetary policy stance for longer, while the Bank of Canada may be able to ease rates sooner. This policy divergence weighed heavily on the Canadian dollar, pushing USD/CAD higher despite Canada’s strong headline number. Market Reaction and Implications USD/CAD climbed from around 1.3370 before the data releases to above 1.3430 in afternoon trading, a move that reflected the market’s repricing of interest rate expectations. The US dollar broadly strengthened against most major currencies following the NFP release, with the DXY index rising to a session high. For Canadian dollar traders, the key takeaway is that the loonie is increasingly sensitive to relative monetary policy expectations rather than domestic data alone. The Canadian jobs report, while strong, was not enough to shift the narrative that the Bank of Canada may cut rates as early as March. Market pricing for a rate cut at the Bank of Canada’s March meeting rose to around 60% after the US data, up from roughly 50% earlier in the week. In contrast, the probability of a Fed rate cut in March fell sharply, with some analysts now pushing back the first cut to May or June. What This Means for Investors and Importers For Canadian importers and businesses with US dollar-denominated expenses, the weaker loonie means higher costs. Conversely, exporters to the US may benefit from a more competitive exchange rate. The divergence in monetary policy expectations also suggests that USD/CAD could remain elevated in the near term, particularly if upcoming US inflation data remains sticky. The Canadian dollar’s fate now hinges on whether the Bank of Canada signals a more cautious approach to rate cuts in its next policy decision. Conclusion The Canadian dollar’s inability to rally on strong domestic jobs data highlights the dominant influence of US economic outperformance and Federal Reserve policy expectations on currency markets. While Canada’s labor market remains robust, the relative strength of the US economy and the resulting monetary policy divergence are likely to keep the loonie under pressure in the weeks ahead. Traders will now focus on upcoming Canadian GDP and inflation data, as well as any shifts in Bank of Canada guidance, for the next directional catalyst. FAQs Q1: Why did the Canadian dollar fall despite strong Canadian jobs data? The US nonfarm payrolls report significantly exceeded expectations, reinforcing expectations that the Federal Reserve will keep interest rates higher for longer. This policy divergence with the Bank of Canada, which may cut rates sooner, outweighed the positive Canadian jobs data. Q2: What is the key level to watch for USD/CAD? The 1.3450 level is a near-term resistance, with a break above that potentially opening the door to 1.3500. On the downside, support is seen around 1.3350, which was the level before the data releases. Q3: How does the US NFP report affect the Canadian dollar? The US NFP report is one of the most important economic releases for USD/CAD because it influences Federal Reserve policy expectations. A stronger-than-expected NFP tends to boost the US dollar against the Canadian dollar, as it suggests the Fed may need to keep rates higher for longer. This post Canadian Dollar Slides Against Greenback Despite Strong Jobs Data as US NFP Surprises to the Upside first appeared on BitcoinWorld .

5 Jun 2026, 16:28

Bitcoin breaks below $60K as risk-off sentiment intensifies

More on markets Dividend Roundup: UnitedHealth Group, Verizon, Alphabet, American Express, and more Treasury yields jump after May payrolls crush expectations Nonfarm payrolls soar past consensus in May; unemployment rate holds at 4.3% AI-powered startup boom could bring major labor market shifts, Apollo says JPMorgan sees the bond yield surge fading in the second half of 2026

5 Jun 2026, 15:50

Silver Falls Below $69 as Strong US Jobs Report Lifts Dollar

BitcoinWorld Silver Falls Below $69 as Strong US Jobs Report Lifts Dollar Silver prices tumbled below the $69 per ounce mark on Friday, extending a sharp decline after the release of a stronger-than-expected US jobs report that fueled a rally in the US dollar. The precious metal, often seen as a hedge against economic uncertainty, faced renewed selling pressure as traders recalibrated expectations for Federal Reserve interest rate policy. Jobs Data Strengthens Dollar, Pressures Silver The US Bureau of Labor Statistics reported that nonfarm payrolls increased by 256,000 in December, significantly exceeding the consensus estimate of 160,000. The unemployment rate edged lower to 4.1%, while average hourly earnings rose 0.3% month-over-month. The data painted a picture of a resilient labor market, reducing the likelihood of imminent rate cuts from the Federal Reserve. The US Dollar Index (DXY) surged in response, climbing above 109.5 for the first time in over a year. A stronger dollar typically weighs on dollar-denominated commodities like silver, as it makes them more expensive for holders of other currencies. This inverse correlation was on full display as silver prices dropped from an intraday high of $70.20 to a session low of $68.75 before stabilizing near $68.90. Market participants quickly adjusted their Fed rate cut expectations. According to the CME FedWatch Tool, the probability of a rate cut at the January meeting fell to just 2.7%, down from 10% earlier in the week. Traders now see the first potential cut as most likely in June, rather than March as previously anticipated. Silver’s Broader Outlook Under Pressure The decline extends silver’s recent weakness. The metal had already been under pressure from a strong dollar and rising Treasury yields, which have been competing with non-yielding assets like precious metals. The 10-year Treasury yield climbed to 4.79% following the jobs report, its highest level since late 2023. Industrial demand for silver, which accounts for roughly half of global consumption, also faces headwinds. Concerns about slowing economic growth in China and Europe have dampened the outlook for industrial metals. However, silver’s dual role as both a monetary and industrial metal means its price trajectory is influenced by a complex mix of factors. Analysts note that the $68-$70 range has been a key support zone for silver in recent months. A sustained break below $68 could open the door to further downside, potentially testing the $65 level. On the upside, a recovery above $70 would be needed to stabilize sentiment. What This Means for Investors For precious metals investors, the current environment suggests a cautious approach. The strong labor market gives the Fed little reason to ease policy quickly, which keeps the dollar and yields elevated. This is a headwind for silver and gold alike. However, some analysts argue that the selloff may be overdone in the near term. They point to ongoing geopolitical risks, central bank gold purchases, and the potential for a softer economic landing later in the year as factors that could eventually support silver prices. For now, the market remains data-dependent, with upcoming inflation reports and Fed commentary likely to be the primary drivers. Conclusion Silver’s drop below $69 underscores the powerful influence of US economic data on commodity markets. The strong jobs report has reinforced the narrative of a resilient economy, boosting the dollar and delaying expectations for Fed rate cuts. While the short-term outlook for silver appears challenged, the metal’s long-term fundamentals remain tied to both monetary policy and industrial demand trends. Investors should monitor upcoming economic releases and Fed signals for further direction. FAQs Q1: Why did silver prices fall after the US jobs report? A strong jobs report boosted the US dollar and reduced expectations for Federal Reserve interest rate cuts. A stronger dollar makes silver more expensive for foreign buyers, while higher interest rates increase the opportunity cost of holding non-yielding assets like silver. Q2: What is the key support level for silver right now? The $68 per ounce level is seen as a critical near-term support. A sustained break below this level could lead to further declines toward $65. On the upside, silver needs to reclaim $70 to stabilize. Q3: How does the Federal Reserve’s policy affect silver prices? When the Fed signals a tighter or less accommodative monetary policy, the dollar typically strengthens and bond yields rise. This reduces the appeal of silver and gold, which do not pay interest. Conversely, expectations of rate cuts tend to weaken the dollar and support precious metals. This post Silver Falls Below $69 as Strong US Jobs Report Lifts Dollar first appeared on BitcoinWorld .

5 Jun 2026, 15:49

Winklevoss-Backed Zcash Treasury Plunges Nearly 40% on ZEC Privacy Bug Concerns

Cypherpunk Technologies shares tumbled to their lowest point since March as jitters tied to a Zcash bug knocked the Winklevoss-backed firm.

5 Jun 2026, 14:20

Australian Dollar Slides as Strong US Jobs Data Bolsters the Greenback

BitcoinWorld Australian Dollar Slides as Strong US Jobs Data Bolsters the Greenback The Australian Dollar retreated against its US counterpart on Monday, as a surprisingly robust US Nonfarm Payrolls (NFP) report released last Friday fueled expectations that the Federal Reserve will maintain its aggressive monetary policy stance. The stronger-than-expected jobs data provided a fresh boost to the US Dollar, pushing the AUD/USD pair lower in early Asian trading. US Jobs Data Surprises to the Upside The US economy added 272,000 new jobs in May, significantly exceeding the consensus estimate of 185,000, according to data from the Bureau of Labor Statistics. The unemployment rate held steady at 4.0%, while average hourly earnings rose 0.4% month-over-month, above the 0.3% forecast. The data reinforced the narrative that the US labor market remains resilient, reducing the likelihood of near-term rate cuts by the Federal Reserve. Market-implied probabilities for a rate cut in September fell sharply following the release, with the CME FedWatch Tool now showing a roughly 50% chance of a cut, down from nearly 70% before the data. This shift in expectations provided a strong tailwind for the US Dollar, which gained across the board. AUD/USD Reaction and Key Levels The AUD/USD pair opened with a gap lower on Monday, trading around 0.6570, down from Friday’s close near 0.6615. The pair has now erased gains made earlier in the week when the Reserve Bank of Australia (RBA) held rates steady and struck a relatively hawkish tone. Technical analysts point to immediate support at the 0.6550 level, followed by the May low of 0.6465. On the upside, resistance is seen at 0.6620 and then the 0.6700 psychological barrier. The pair remains sensitive to shifts in US interest rate expectations and broader risk sentiment. Why This Matters for Traders and Investors The Australian Dollar is often viewed as a proxy for risk appetite, given its close correlation with commodity prices and global growth expectations. A sustained rally in the US Dollar, driven by strong US data, could keep the AUD under pressure in the near term. For importers and exporters dealing in AUD, the weaker exchange rate may have mixed implications: lower costs for US-dollar-denominated imports but reduced margins for Australian exporters. Investors will now turn their attention to upcoming US inflation data, due later this week, which could further shape Fed policy expectations. A higher-than-expected Consumer Price Index (CPI) reading could reinforce the Dollar’s strength, while a softer print might provide some relief for the Aussie. Conclusion The Australian Dollar’s retreat following the strong US jobs report highlights the continued dominance of US macroeconomic data in driving currency markets. With the Fed likely to keep rates higher for longer, the path of least resistance for AUD/USD appears skewed to the downside in the short term. Traders should monitor US inflation data and any shifts in global risk sentiment for the next directional cues. FAQs Q1: Why did the Australian Dollar fall after the US jobs report? A stronger-than-expected US Nonfarm Payrolls report reduced the likelihood of the Federal Reserve cutting interest rates soon, boosting the US Dollar and putting downward pressure on the Australian Dollar. Q2: What is the key support level for AUD/USD right now? Immediate support is seen around 0.6550, with a break below that opening the door to the May low near 0.6465. Q3: How does the US jobs data affect the Federal Reserve’s policy? A strong labor market gives the Fed more room to keep interest rates elevated to combat inflation, reducing the probability of rate cuts in the near term. This post Australian Dollar Slides as Strong US Jobs Data Bolsters the Greenback first appeared on BitcoinWorld .