Bitcoin Continues Its $80K Battle as US Jobs Data Smash Expectations Despite Iran
Cointelegraph
Bitcoin struggles around $80,000 as strong US jobs data reduces interest rate cut odds, but traders see a healthy support retest.Summary
Bitcoin is facing resistance around the $80,000 mark as surprisingly strong US jobs data for April has diminished expectations of imminent interest rate cuts by the Federal Reserve. The economy added 115,000 jobs, significantly exceeding the anticipated 65,000, with minor revisions to previous months' figures. This robust employment growth suggests the Fed may be less inclined to ease monetary policy. Despite the initial dip in Bitcoin's price following the news, traders remain cautiously optimistic, viewing the current price action as a "healthy bullish backtest" of key support levels, indicating potential for a continuation of the uptrend.
(Source：Cointelegraph)