Bitcoin drops to $63k, strong employment data intensifies Fed hawkish expectations

CoinWorld News reports that Bitcoin (BTC) has fallen nearly 3% following the release of strong U.S. employment data, with the current trading price approaching $63k.
U.S. Department of Labor data shows that for the week ending June 13, initial unemployment claims dropped to 226,000, below the previous week's 230,000.
The Federal Reserve kept interest rates unchanged at 3.50%-3.75% at its June 17 meeting, with expectations of further tightening policies possibly in 2026.
This outlook has prompted traders to reduce their exposure to risk assets.
Leverage long positions on Bitcoin at major exchanges were liquidated, causing the price to break below $64k, and traders are reassessing the possibility of a short-term rate cut.
The number of ongoing unemployment benefit claims increased to 1.81 million, indicating a softening labor market.
Analyst Altcoin Sherpa warned that if the current support level is broken, Bitcoin could revisit the $60k region in the coming days.