Global Market Highlight

The U.S. employment report for May 2025 revealed a mixed picture—wage growth remains strong on one hand, while signs of loosening in labor market dynamics emerge on the other. This outcome reinforces expectations that the Federal Reserve will maintain interest rates at their current level soon.

1. Nonfarm Payrolls (NFP): Growth Continues, but Momentum Weakens

The U.S. added 139,000 new jobs in May, slightly better than the previous month's downwardly revised figure of 147,000. However, a total of 95,000 negative revisions over the past two months suggests that the labor market's strength is not as robust as previously reported.

Sectoral Breakdown:

  • Solid growth was observed in healthcare, transportation & warehousing, and financial activities.
  • Conversely, manufacturing contracted (–8,000), followed by weakness in the government sector.

2. Unemployment Rate: Stable, but Participation Declines

The unemployment rate held steady at 4.2% for the second consecutive month, indicating stability. However, a decline in the labor force participation rate to 62.4% (a two-year low) raises concerns. This suggests that the stable unemployment rate is partly due to fewer people actively seeking employment.

3. Wages: The Primary Hawkish Catalyst

Average hourly earnings rose by 0.4% month-over-month and 3.9% year-over-year, showing that wage-driven inflationary pressures remain quite strong. This was the most hawkish component of the report and is seen as a key reason for the Fed to remain cautious. Market Reaction & Policy Outlook

  • USD: Briefly strengthened following the data release, primarily due to higher-than-expected wage growth.
  • U.S. Stocks: Moved sideways as the market digested the mixed signals from the report.
  • Bond Yields: Rose, reflecting expectations that a rate cut will be delayed further.

The Fed's Outlook

This data supports a "wait-and-see" approach from the Fed ahead of the June 18 FOMC meeting. Strong wage growth is a primary obstacle to a rate cut, while signals of a weakening labor market provide a reason not to raise rates further.

BTC Technical Analysis

As of June 3, 2025, Bitcoin (BTC/USDT) remains in a medium-term uptrend, although it is currently undergoing a healthy correction after reaching a recent high around 111,980 USDT. The current price is around 105,321 USDT, indicating a moderate pullback following a strong rally since late April. 

The nearest support zone is at 103,000–104,000 USDT. If this area holds, BTC has the potential to rebound and retest the 111,000 USDT resistance level. However, if it breaks below this support, the price may decline further toward the 97,000 or even 92,000 USDT range. So far, there is no clear signal of a bearish trend reversal, so the correction still appears to be part of a healthy uptrend.

For traders, a potential strategy is to buy on dips near support with a tight stop loss. For long-term investors, holding or accumulating could still be a valid approach as long as the overall trend structure remains intact.

ETH Technical Analysis

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As of June 3, 2025, Ethereum (ETH/USDT) is moving sideways after a strong rally in mid-May. The price is around 2,614 USDT and is currently ranging between support at 2,475 USDT and resistance near 2,678 USDT. This shows the market is in a consolidation phase with no clear direction yet. 

The overall trend remains bullish, especially after ETH broke above the 1,900 USDT level in early May. If the price manages to break through the 2,740–2,790 USDT resistance zone with strong momentum, it could retest the recent high at 2,820 USDT and potentially continue toward the long-term target of 3,500 USDT. However, if ETH drops below 2,475 USDT, it may signal a deeper correction with downside potential toward the 2,200 USDT level.

SOL Technical Analysis

Solana (SOL) recently broke below its upward trendline, signaling a potential shift in momentum. After peaking near 187 USDT, the price corrected and is now consolidating around 159 USDT. As long as it stays above the 153 USDT range, there’s still a chance for recovery.

If SOL can reclaim the broken trendline and push above 165 USDT with volume, it may retest the 180–187 USDT resistance area. However, if it falls below 150 USDT, the next major support lies in the 143 zone. This level has acted as a strong base in the past and could be a key level to watch for potential rebounds.

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Disclaimer:
This material is for general information and is not investment advice, a recommendation, or a solicitation to buy and sell any cryptocurrencies, digital assets, securities, or derivative instruments, or to make any investments. Any opinions or estimates are the best judgment of the research team as of the date of preparation and are subject to change without notice. Mobee is not obligated to update this report based on information and events that occurred after this report was created and published. Any suggestions or recommendations in this report may not be appropriate for certain users.