Bitcoin Price Drops to $59K Amid Surprise Jobs Report and AI Capital Rotation

Bitcoin's price plummeted to $59,000 following a surprise jobs report that beat market estimates. The non-farm payrolls rose to 172,000 in May 2026, more than double the expected 85,000.

The unexpected reading sent shockwaves through the market, with BNP Paribas stating it opens the door for up to three Federal Reserve rate hikes, which historically weighs on risk assets like Bitcoin. As a result, the cryptocurrency fell from $62,500 to around $59,000 in a short period.