Bitcoin experienced a decrease in price while major US stock indices saw an increase following a positive jobs report for May 2023 from the US Bureau of Labor Statistics.
The report showed an increase in nonfarm payroll employment and a rise in the unemployment rate. The upcoming Federal Open Market Committee meeting may result in mixed expectations regarding rate hikes by the US Central bank, which could cause volatility in the crypto market.
However, the S&P 500 Index saw a positive surge on Friday in response to the jobs data, which may lead to a potential increase in the Bitcoin price. Currently, Bitcoin dominates the United States' crypto market.
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