Crypto Market Daily Highlights June 3

It was a bearish Friday for bitcoin (BTC) and the broader market, with bitcoin returning to sub-$30,000.

Investor angst over Fed monetary policy weighed ahead of US nonfarm payroll figures that added further pressure later in the day.

Regulatory risk, inflation, economic uncertainty, and Fed monetary policy remain headwinds for bitcoin and the broader crypto market

There were no major news updates from regulators to spook investors, leaving the crypto market to track the US equity markets.

Following a $100 billion tumble in the total crypto market cap on Wednesday, Friday’s reversal saw the total crypto market cap fall back to sub-$1,200 billion.

A $64 billion slump saw the total market cap fall to a day low of $1,185 billion before a recovery to $1,200 billion levels.

ADA (-4.60%),  BNB (-3.21% ),  BTC (-2.50%),  ETH (-3.23%),  DOGE (-3.06%),  and XRP (-3.79%) also struggled.

Monday through Friday, bitcoin was up 0.77%, supported by a 7.69% rally on Monday. The US markets were closed for Memorial Day.