BTC briefly fell to 70,911 US dollars, with a drop of over 1.74% in 30 minutes

The U.S. added 272,000 new jobs in May, far exceeding the Wall Street Journal's surveyed estimate of 190,000 and also significantly higher than the revised increase of 165,000 in April. However, the unemployment rate rose from 3.9% to 4%.

Overall, non-farm data may pour cold water on recent expectations that the Federal Reserve might start cutting interest rates this summer. Influenced by this news, U.S. Treasury yields surged dramatically. The yield on ten-year Treasuries rose from just before the report was released at 4.289% to 4.427%. The dollar index rose by 0.5%, as prospects for a delay in easing monetary policy in America could maintain its interest rate differential relative to other developed markets where borrowing costs are already falling.

Affected by the latest data, BTC briefly fell to $70,911 with a drop of more than 1.74% within half an hour.