Bitcoin Tests 80,000 Support Amid Unexpected US Employment Data

Bitcoin s price remains above 80,000, with traders viewing the situation as a normal bullish retest before a potential continuation of growth. However, US labor market data has added uncertainty.
The April employment report in the US surprised many: the economy created 115,000 new jobs almost double the forecast of 65,000. The Bureau of Labor Statistics also revised previous months data: February s figures were adjusted downwards by 23,000 to -156,000 , while March s were revised upwards by 7,000 to 185,000 . Overall, employment for February and March was 16,000 lower than previously published figures. The unemployment rate remained at 4.3 .
For Bitcoin, strong statistics led to a brief decline: a convincing labor market reduces the likelihood of easing monetary policy by the Federal Reserve Fed . Following its last meeting, the regulator indicated that conditions are more conducive to tightening rather than lowering rates. The FedWatch Tool data from the Chicago Mercantile Exchange reflects only a 6 chance of a rate cut at the Fed s meeting on June 17.
Despite macroeconomic pressures, market participants maintain cautious optimism. Trader Daan Crypto Trades described the situation as a retest of the previous consolidation highs and noted that the current rebound looks promising however, this level is crucial for buyers.