Bitcoin Holds Near $70,000 as June Jobs Data Week Begins

Bitcoin remains pinned near $70,000 after a 4.4% slide into early June, entering a high-impact macro week that opens with Tuesday’s JOLTS data and peaks with Friday’s May non-farm payrolls. Markets price a 98% chance the Fed holds rates at the June 16-17 FOMC meeting under new Chair Kevin Warsh, whose first dot plot is awaited. On-chain metrics show exchange reserves at a seven-year low of 2.2 million BTC and long-term holders controlling 75% of supply, while negative funding rates signal crowded shorts. May closed with BTC down 3.6% near $73,500 amid $2.4 billion in ETF outflows and rising Treasury yields, setting a fragile tone for labor-data-driven volatility.