Bitcoin Price Hovers Above $80K on US Job Growth Optimism
Bitcoin (BTC) price is up 0.65% to $80,391.92, moving in line with a broader market that gained 1.09% amid US job growth that beat and dimmed geopolitical tensions.
A better-than-expected US jobs report has given crypto a short-term sentiment lift, with Bitcoin steady near 80,000 dollars and altcoins showing more upside.
Also, BTC rise aligns with a broader market uptick. Despite a daily outflow of $277 million from spot ETFs on May 7, the sector logged its sixth straight week of net inflows, totalling $3.4 billion since early April.
US job growth beat expectations, improving risk sentiment and supporting Bitcoin near 80,000 dollars while several large altcoins outperformed.
The US added about 115,000 nonfarm jobs in April, nearly double economists’ forecasts of around 60,000, with unemployment steady at 4.3 per cent and wage growth slightly below expectations. That combination signals an economy that is slowing but not breaking.
Reports show Bitcoin (BTC) trading near 80,000 dollars, roughly flat on the day but up modestly on the week, as traders digested the jobs surprise and ongoing macro tensions.
The total crypto market cap is about $2.68 trillion, up around 1.15 per cent over 24 hours, while the altcoin market cap is about $1.07 trillion, up 0.46 per cent, and BTC dominance is roughly 59.98 per cent.
Altcoins outperformed in many spot markets. A CoinDesk wrap notes that altcoins outperformed bitcoin as risk appetite increased, with names like SOL, LINK, and SUI posting mid-single to low-double-digit daily gains.
The move looks like a mild rotation into higher-beta coins rather than a full risk-on surge, with BTC acting as the macro anchor and alts offering more upside on the same macro relief.
The same strong jobs data that lifted mood also reduces odds of early Fed rate cuts, and some analysis frames it as a net headwind for crypto and other risk assets because higher-for-longer rates keep funding costs elevated. XRP Gains on Payment Pilot with Ripple, JPMorgan, MasterCard
