Bitcoin Pulls Back From 2 Month High

U.S. Added 272K Jobs in May, Blowing Past Estimates; Bitcoin Pulls Back From 2-Month High Recent soft economic and inflation data combined with rate cuts this week in Europe and Canada had investors rethinking expectations about Fed policy. Far stronger than expected U.S. job adds are likely to put a damper on ideas of imminent Fed rate cuts Bitcoin, stock and bond markers have all turned lower in response to the fresh data Bloomberg’s chief economist suggested the headline number is masking the underlying weakness in the economy The employment market in the U.S. remained strong in May with the government reporting the addition of 272,000 jobs, far past estimates for just 185,000 and well ahead of April’s 165,000 (revised from a previously reported 175,000). The May unemployment