May 2026 jobs report crushed estimates with 172,000 new payrolls, pushing Fed rate hike odds to 70% and sending the Nasdaq down 4% as crypto faces

May's 172K jobs report doubled forecasts, sending Bitcoin near $60K and the Fear & Greed Index to 12 as rate-cut hopes evaporate across crypto markets.

The May 2026 BLS jobs report added 172,000 positions, roughly double the consensus forecast. Here's what the strong labor data means for crypto investors.