The US economy added 172,000 jobs in May, doubling expectations. Bitcoin dipped to $62K as strong labor data dims hopes for Fed rate cuts.

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.

Traders bet the Fed will have to raise rates by December