The US added 172,000 jobs in May, doubling estimates. Bitcoin dropped to $61,900 as traders repriced Fed rate-cut expectations on strong labor data.

The US labor market appears to have found its footing: The economy added 172,000 jobs in May, shattering expectations, new data from the Bureau of Labor Statistics showed Friday.

The US labor market appears to have found its footing: The economy added 172,000 jobs in May, shattering expectations, new data from the Bureau of Labor Statistics showed Friday.

US unemployment holds steady at 4.3% with job growth exceeding expectations. Rate cut in 2026 at 6.5% YES.

Traders bet the Fed will have to raise rates by December