Fed Rate Hike Expectation Surges, U.S. Stocks Under Pressure

On June 5, Bitget announced in an official release that the platform has launched 45 US stock and popular ETF spot tokens, including rIBM (IBM), rGS (Goldman Sachs), rC (Citigroup), rAXP (American Express), and rJNJ (Johnson & Johnson). The new offerings span key high-demand sectors such as cloud services, cybersecurity, fintech, new consumer segments, semiconductors, and commodity ETFs. For full details, please visit Bitget’s official platform.

After U.S. stock markets opened on June 5, the crypto market saw an accelerated selloff, with Bitcoin dropping below $61,000 and Ethereum briefly trading below $1,600. Per Coinglass data, $160 million in total liquidations were logged over the past hour — $156 million of which came from long positions. In the last 24 hours, overall liquidations across the crypto market hit $1.238 billion. Globally, 260,647 positions have been liquidated. The largest single liquidation occurred on Binance’s BTCUSDT trading pair, totaling $13.3164 million.

June 5. According to HTX market data, Bitcoin has dropped below $61,000 and is currently trading at $60,893.48.

June 5. Today, the first nonfarm payroll report of the "Powell era" hit newswires, and it came in far hotter than analysts had expected. Analysts and traders are largely aligned on one thing: the Federal Reserve will raise interest rates. Leading analyst and well-known "Fed Whisperer" Nick Timiraos noted the jobs report won’t resolve the debate over how large the Fed’s next rate hike will be, but a near-term rate cut is now essentially off the table. CME Group’s FedWatch Tool backs that take: as of December, the probability of a Fed rate hike has jumped to 67.7%, with the only remaining disagreement being the size of the move. Major investment banks are also weighing in on their outlooks: BNP Paribas forecasts the Fed will kick off a streak of three consecutive rate hikes starting in December 2026. After the data release, the only group still insisting on rate cuts is the Trump administration. White House National Economic Council Director Kevin Hassett told reporters po

On June 5, Bitget’s market data indicates WTI crude oil dropped 2.3% intraday, currently trading at $92.18 per barrel. Brent crude oil declined more than 2.2% intraday, now priced at $92.28 per barrel.

June 5 Update: Per LookIntoBitcoin monitoring, BlackRock’s BTC ETF has finally halted its Bitcoin outflows today, registering a net inflow of 537 BTC (valued at approximately $33.18 million). Historical data indicates that if this trend change holds, it will signal a mid-term bottom for Bitcoin.