BitcoinBTC
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Bitcoin printed a $59,990 low on Saturday, its weakest tape since October 2024, after a hot non-farm payrolls print on Friday and a 14th straight session of spot ETF outflows that has now drained close to $5 billion. The setup heading into a CPI release on June 10 and the FOMC dot plot on June 17 leaves the tape sitting on cost-basis support with no obvious bid above it.
The selloff did not start on-chain. It started with a payrolls beat. The Bureau of Labor Statistics reported 172,000 May jobs against an 85k consensus, with unemployment steady at 4.3%. BNP Paribas told clients the print opens the door to as many as three Fed hikes, a regime shift risk assets are not priced for. Bitcoin took the hit in a straight line, dropping from $62,500 to a $59,990 low and closing the week 6% lower over 24 hours.
Latest News
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Recent Analysis
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About Bitcoin
Bitcoin (BTC) is a store of-value cryptocurrency.
An evergreen profile covering its purpose, key milestones, use cases, and risks will appear here.
FAQ
- What is Bitcoin?
- Bitcoin (BTC) is a store-of-value cryptocurrency designed to hold purchasing power over long horizons, traded as a digital scarcity asset. See our methodology page for how we track and analyze it.
- What makes Bitcoin a store of value?
- Bitcoin (BTC) is positioned as a store of value because its supply schedule is fixed or strictly capped, which proponents argue makes it harder to debase than fiat currency. Whether it lives up to the framing depends on the time horizon and the macro regime.
- Why is Bitcoin considered a major crypto?
- Bitcoin (BTC) is in the top tier of tracked assets at Cryptomat. Tier 1 covers blue chips with deep liquidity across major exchanges, sustained news flow, and (for most) ETF eligibility or active institutional coverage.
- Where can I see the live Bitcoin price?
- The live Bitcoin price is at the top of this page, streamed in real time from Binance spot markets.
- Where can I read the latest Bitcoin analysis?
- This hub aggregates Cryptomat's Bitcoin coverage in one place: classified breaking news, deep-dives with bull/base/bear scenarios, on-chain signals, and the CryptoBeast sentiment score.