As of May 31, 2026, Bitcoin (BTC) is poised to close the month with an approximate decline of 3%, trading around $73,500. Despite recent losses, analysts are observing the upcoming US labor-market data as a potential catalyst for price fluctuations in the cryptocurrency.
The Institute for Supply Management (ISM) Manufacturing Purchasing Managers’ Index (PMI) report is expected to influence Bitcoin’s price movements significantly in the coming week. Market analysts believe that a positive reading could provide necessary support for BTC, which is currently struggling to maintain its position above the critical threshold of $73,000.
While US stocks have achieved new all-time highs, Bitcoin’s performance remains lackluster, with traders expressing cautious sentiment. Notably, geopolitical developments, such as the US-Iran ceasefire, have not positively impacted Bitcoin prices as anticipated. The trading community is closely watching the PMI data, as it may dictate the broader market's risk appetite and consequently, Bitcoin's trajectory.