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\n\t\t\t\t\t\t\t\t\tA busy week of US labor market data lies ahead as crypto continues to cool amid increasing macroeconomic headwinds.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Crypto markets remained flat over the weekend following heavy losses last week. Bitcoin and Ether remain weak, with no immediate catalysts to spur a recovery.<\/p>\n
Meanwhile, fresh labor market data and updated readings on manufacturing and services activity are on the table this week.<\/p>\n
\u201cWe also await further details about a potential US-Iran deal, which appears to be dragging on again,\u201d said the Kobeissi Letter.<\/p>\n
May\u2019s ISM Manufacturing PMI report is due on Monday, which will shed light on the US manufacturing sector.<\/p>\n
This is followed by April\u2019s JOLTS Job Openings data on Tuesday and May\u2019s ISM Non-Manufacturing PMI data on Wednesday.<\/p>\n
Initial Jobless Claims data is on Thursday, and the big May Jobs Report is due on Friday.<\/p>\n
The labor market data is keenly eyed as it is one of the Federal Reserve\u2019s two mandates for monetary policy decisions. The outlook is currently mixed, with more-than-expected hiring in April and May, but experts are divided.<\/p>\n
Some economists believe the labor market is rallying after a slow year in 2025, while others claim the growth reflects surging demand for health care workers driven by an aging population rather than economic expansion, according<\/a> to reports.<\/p>\n Key Events This Week:<\/p>\n 1. May ISM Manufacturing PMI data \u2013 Monday<\/p>\n 2. April JOLTS Job Openings data \u2013 Tuesday<\/p>\n 3. May ISM Non-Manufacturing PMI data \u2013 Wednesday<\/p>\n 4. Initial Jobless Claims data \u2013 Thursday<\/p>\n 5. May Jobs Report \u2013 Friday<\/p>\n 6. Total of 7 Fed Speaker Events This Week\u2026<\/p>\n \u2014 The Kobeissi Letter (@KobeissiLetter) May 31, 2026<\/a><\/p>\n<\/blockquote>\n The major stock indexes finished<\/a> a month of gains at record highs last week, buoyed by enthusiasm for tech stocks and dipping oil prices, but crypto remained deep in bear territory.<\/p>\n May ended with Bitcoin losing 3.6% following two green months. It made a weekend high<\/a> of $74,000 but could not advance further and fell back towards $73,000 during Monday morning trading.<\/p>\n The asset has lost 5% over the past week and is moving to the lower bands of its four-month-long range-bound channel.<\/p>\n Ether had lost the $2,000 level again on Monday morning after spending most of the weekend just above it.<\/p>\n \u201cSeveral meaningful catalysts are converging in June that could prove significant for Bitcoin\u2019s near-term trajectory,\u201d reported<\/a> 10x Research on Monday.<\/p>\n \u201cThe headwinds are real and visible: ETF outflows, stablecoin contraction, and trading volumes at historic lows all point to near-zero conviction, but that is precisely the environment we anticipated for a major cycle bottom.\u201d<\/p>\n<\/blockquote>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n\n
Crypto Market Outlook<\/h2>\n
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