By Omkar Godbole (All times ET unless indicated otherwise)

Bitcoin (BTC) and the wider cryptocurrency market recovered from overnight lows, with monero (XMR), XRP and SUI leading the bounce ahead of the pivotal U.S. nonfarm payrolls report, which is expected to show a slowdown in hiring in May.

"In the short term, weak data may support BTC to continue the rebound. The market is concerned about Friday's non-farm payrolls report, if it again shows that the labor market cooling, will strengthen the year rate cut expectations," analysts at Bitunix said in an email.

Other analysts expressed concerns about the public spat between President Donald Trump and his one-time ally and billionaire tech entrepreneur Elon Musk over tax reforms and their impact on fiscal deficit.

"A public clash betwee

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