Bitcoin stalls near $80,000 after U.S. jobs surprise

Bitcoin paused near $80,000 at Friday’s Wall Street open after U.S. nonfarm payrolls for April came in at 115,000 versus 65,000 expected, a result that reduced market expectations for near-term Federal Reserve rate cuts and triggered volatile trading around the key price level.

The U.S. Bureau of Labor Statistics reported the 115,000 increase and published revisions that lowered February employment by 23,000 and raised March by 7,000, leaving combined February–March employment 16,000 below prior estimates. The civilian unemployment rate remained at 4.3 percent.

Following the labor report, Bitcoin’s price swung above and below $80,000 on crypto exchanges. One-hour price bars showed frequent flips across that level as buyers and sellers reacted to the payrolls print. Bitcoin initially fell after the report.

CME Group’s FedWatch Tool showed market odds shifting toward a higher rate path for the Federal Reserve’s June meeting, reflecting traders’ reassessment of the likely timing of rate cuts. Changes in rate expectations coincided with intraday moves in Bitcoin and other risk-sensitive assets.

Traders described the session as a test of recent gains. Trader Daan Crypto Trades wrote that the price was “retesting the highs from the previous consolidation” and called $80,000 a key level for bulls to hold. Another trading account, Cryptic Trades, wrote that Bitcoin was probing a bull-market support band formed by daily moving averages and described the price action as “a healthy bullish backtest before a continuation higher.”

Technical indicators were mixed before the payrolls release. The relative strength index flagged overbought readings on some time frames, while moving averages and other trend-following indicators continued to reflect the recent uptrend.

Market participants will monitor upcoming economic releases and the Fed’s policy remarks for further guidance on how interest-rate expectations might affect cryptocurrency markets in the near term.