Bitcoin remained relatively stable after the May jobs data revealed an increase of 139,000 new positions, surpassing the expected 125,000. However, Bitcoin fell 1.5% in 24 hours to $103,919, while major altcoins like Ethereum and Dogecoin experienced declines of 5.5% and 6.4% respectively. The report from the Bureau of Labor Statistics indicated a steady job market, presenting a mixed signal for investors concerned about the economic environment. Despite the increase in jobs, Bitcoin's momentum seems to be waning amidst worries about the economy and rising trade tensions, particularly relating to a conflict between President Trump and Elon Musk. Over the last two weeks, Bitcoin has dropped 5.4%, with many analysts suggesting that the market's reaction to economic data indicates underlying uncertainties regarding future conditions. This downturn is compounded by pressure from declining economic indicators such as the ADP jobs report and a decrease in the services PMI below the critical 50% mark, marking potential challenges ahead for the cryptocurrency market.

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