Cryptocurrency Prices on June 10: Bitcoin falls below $69.5K following hotter-than-expected US jobs report

economictimes.indiatimes.com:

U.S. employers added 2,72,000 jobs in May, up from April and more than economists expected. The report also showed the unemployment rate rising for a second straight month. Overall, it signals continued strength in the jobs market, with some minor signs of weakening. The strong jobs market has supported consumer spending and the broader economy, but it has also been complicating the Federal Reserve's path ahead for interest rates.

As of 12:42 pm IST, Bitcoin was down 0.1% to $69,379, while Ethereum experienced a 0.5% decline to $3,668. Other major tokens such as BNB, Solana, Dogecoin, Shiba Inu, and Chainlink also traded in the red, while XRP, Tron, Kaspa, and Pepe saw gains.

«Bitcoin's price dropped below $70,000, erasing most of its weekly gains. This steep decline was part of a broader crypto market selloff, triggered by an unexpectedly strong US employment report,» said CoinSwitch Markets Desk.

Did you Know?

The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.

On a similar line, Shivam Thakral, CEO of BuyUcoin, said, «Stronger than expected US jobs data dashed the rate cut hopes by the US Fed