Bitcoin News
By James Thorp
1 / 15
Jobs Report Torches Risk Assets. The May 2026 non-farm payrolls number came in at 172,000. Wall Street had penciled in 85,000.
2 / 15
ETF Outflows and the $545 Million Liquidation Wave. Spot Bitcoin ETFs have now bled for 14 consecutive sessions.
3 / 15
Bitcoin hit $59,990 on Friday — its worst level since October 2024 — after a brutal 6% slide in under 24 hours.
4 / 15
Michael Saylor came out swinging. His company had recently sold part of its Bitcoin holdings, and critics were quick to blame him for dragging the price down.
5 / 15
The May 2026 non-farm payrolls number came in at 172,000. Wall Street had penciled in 85,000. That's not a miss — that's a different planet entirely.
6 / 15
Rate sensitivity in crypto isn't new. Every time the Fed signals tighter policy, leveraged crypto positions feel it first.
7 / 15
Spot Bitcoin ETFs have now bled for 14 consecutive sessions. Cumulative outflows are approaching $5 billion.
8 / 15
Friday's session made things worse in a hurry. Total liquidations hit $545 million. Of that, $444 million came from long positions — traders who had bet on Bitcoin holding or…
9 / 15
More context: SpaceXs $1.75 Trillion IPO Pulls $2.43 Billion Out of Bitcoin ETFs
10 / 15
Bitcoin also slipped below its 50-day exponential moving average of $65,000 during the selloff. That's a level traders watch closely, and losing it tends to invite more selling.
11 / 15
The broader crypto market didn't escape either. Other major cryptocurrencies sold off alongside Bitcoin as the risk-off mood spread.
12 / 15
Whether $59,000 holds as support is genuinely unclear. The macro picture isn't getting easier — if BNP Paribas is right about three rate hikes, there's more pressure ahead.
13 / 15
The ETF outflow streak is the number that probably matters most right now. Fourteen sessions is a long time. Nearly $5 billion is a lot of money.
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More context: Bitcoin Eyes $40K Cycle Low as 125-Day Countdown Starts
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Long liquidations at $444 million on a single Friday tells you how crowded the long side had gotten. When leverage unwinds that fast, it leaves a mark.
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