Non-Farm Payrolls Beat Expectations, Fed Rate Hike in December Skyrocketing

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.

On June 5, Semafor reported that the U.S. National Security Agency (NSA) is using Anthropic’s advanced Mythos artificial intelligence model to conduct hacking operations. The outlet stated that while Mythos boasts robust capabilities in detecting and exploiting software vulnerabilities, the model has not been publicly released. It is instead made accessible only to a limited set of agencies, intended to help them develop their own cybersecurity defense systems. This comes even as the U.S. government is embroiled in a legal dispute with Anthropic—yet the NSA is reportedly leveraging the AI model for offensive hacking activities.

June 5 – The U.S. House Ways and Means Committee is circulating seven draft proposals focused on digital asset taxation, with the goal of comprehensively overhauling America’s cryptocurrency tax framework, according to crypto reporter Eleanor Terrett. The proposals cover core areas including stablecoin payments, small-value transaction tax exemptions, mining and staking income recognition, crypto lending, wash sale rules, tax treatment for charitable donations, and a voluntary disclosure program for taxpayers with past reporting issues. The drafts are expected to take center stage at the committee’s cryptocurrency tax hearing this Tuesday.