Live updates: bitcoin below $62,000 ahead of jobs data as Zcash bug rocks crypto
Analysis
Price Impact
HighBitcoin is under pressure, trading below $62,000, ahead of key us jobs data. the zcash bug, causing a 40% price drop, is creating broader market fear and impacting bitcoin's immediate trading range. positive jobs data could further dampen sentiment, while weak data might offer a brief reprieve.
Trustworthiness
HighPrice Direction
BearishBitcoin is currently trading down, and the negative sentiment from the zcash bug, coupled with the uncertainty of the jobs data, points towards continued downward pressure in the short term. a strong jobs report would likely reinforce bearish sentiment.
Time Effect
ShortThe immediate impact of the jobs data and the ongoing zcash situation will likely shape market sentiment within the next few days. longer-term effects depend on broader macroeconomic trends.
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Article Content:
live Updated just now Live updates: bitcoin below $62,000 ahead of jobs data as Zcash bug rocks crypto Zcash plummetted 40% as Shielded Labs revealed a major bug that went undetected for four years By Stephen Alpher Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin remains under pressure (Getty images) just now ยท 12:08 PM Stephen Alpher Share Share this post Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin (BTC) has mostly given up yesterday's modest bounce, returning to $61,900 during U.S. morning hours, down 0.8% over the past 24 hours. Coming in a few minutes is the U.S. Nonfarm Payroll Report for May. While the interest rate outlook has taken a back seat to other concerns amid this week's crypto price crash, this morning's data will nevertheless be significant. Markets have swung from the certainty of rate cuts this year to rate hikes as inflation has risen, in part due to surging energy costs. About the only thing that might alter that outlook for rates would be a sizable downturn in the labor market. If the interest rate outlook does another 180-degree turn (this time back to cuts), it could prove to be a tailwind to crypto markets. Latest Crypto News 1 Arthur Hayes dumps zcash holdings after Orchard Pool vulnerability revealed 11 minutes ago 2 Bitcoin sentiment hit peak bearishness at recent lows, peak bullishness near tops 43 minutes ago 3 Crypto's worst week since July 2024 deepens as bitcoin, ether near critical price levels 1 hour ago 4 JPMorgan, Bank of America, Citi to start blockchain offensive with shared tokenized network 2 hours ago 5 U.S. bitcoin, ether ETFs end record multibillion outflow streak 3 hours ago 6 Here's what could happen if bitcoin breaks below $60,000 4 hours ago 7 Bitcoin in danger of dropping to $60,000, with Zcash bulls turning their backs on ZEC 5 hours ago 8 Bitcoin plunges to near $62,000 as the AI trade unwinds, HYPE falls 14% 6 hours ago 9 Zcash plummets 38% as Shielded Labs reveals a major bug that went undetected for four years 6 hours ago 10 Crypto Clarity Act in spotlight for bad-actor provisions as Senate process grinds forward 16 hours ago Latest Research The Pre-IPO Perpetuals Category Takes Shape The Pre-IPO Perpetuals Category Takes Shape Binance launched Pre-IPO perpetuals May 21. Within days, it captured >60% category share; cumulative volume now ~$400M, with SPACEX dominating at 79%. By CoinDesk Research May 29, 2026 Binance launched Pre-IPO perpetuals May 21. Within days, it captured >60% category share; cumulative volume now ~$400M, with SPACEX dominating at 79%. Why it matters : Binance launched Pre-IPO perpetuals May 21. Within days, it captured >60% category share; cumulative volume now ~$400M, with SPACEX dominating at 79%. View Full Report More From Tech Bitcoin in danger of dropping to $60,000, with Zcash bulls turning their backs on ZEC Not all Ethereum layer 2s are dying, but many general-purpose chains no longer have a reason to exist Apparent Zcash outage was a block explorer problem, infrastructure provider says