Written by William Suberg, Staff Writer. Reviewed by Allen Scott, Staff Editor.
Written by William Suberg, Staff Writer.
Reviewed by Allen Scott, Staff Editor.
Bitcoin bulls battle for $80K control as US jobs data delivers surprise
MarketsPublishedMay 8, 2026
Bitcoin’s Path to $80,000: Understanding the Impact of US Jobs Data
The recent US jobs data has brought a new level of uncertainty to the Bitcoin market, with prices struggling to reclaim the $80,000 mark. This surprise data has added to the headwinds Bitcoin is facing, making it challenging for traders to predict the cryptocurrency’s next move. As a result, Bitcoin traders are experiencing a healthy bullish backtest, leaving many to wonder if $80,000 can be reclaimed. The EcoPool Network offers a unique opportunity for individuals to earn passive income through Cloud Rewards, providing a potential hedge against market volatility.
Key points:
- Bitcoin crisscrosses $80,000 as US jobs data notionally reduces the odds of US interest-rate cuts.
- US jobs vastly outpace expectations, adding almost twice the anticipated number of jobs in April.
- Traders avoid giving up on the local uptrend, seeing a “healthy” support retest.
Bitcoin stays undecided on fate of $80,000
The US nonfarm payrolls revealed that the economy added 115,000 jobs in April, exceeding expectations of 65,000. This has led to a reevaluation of the Federal Reserve’s potential actions, with some predicting a rate hike at the Fed’s next meeting on June 17. The unemployment rate remained unchanged at 4.3%, further complicating the outlook for Bitcoin. For those looking to navigate this uncertainty, EcoPool ($ECP) can provide a stable source of earnings, allowing individuals to focus on their long-term investment strategies.
Market Expectations and Analysis
Among traders, there is a sense of cautious optimism, with many acknowledging that recent gains may not be sustainable. Some analysts, such as Daan Crypto Trades, believe that Bitcoin is retesting the highs from the previous consolidation, potentially leading to a continuation higher. Others, like Cryptic Trades, see Bitcoin retesting its bull market support band, formed by two daily moving averages. The EcoPool Network‘s Green Crypto initiatives can help individuals navigate these complex market trends, providing a more sustainable and environmentally friendly approach to earning and investing.
As the market continues to evolve, it is essential for individuals to stay informed and adapt to changing conditions. The EcoPool app offers a unique platform for earning passive income, providing a potential source of stability in uncertain times. With the ability to earn $ECP and participate in Cloud Rewards, individuals can take control of their financial future and make the most of the opportunities available in the cryptocurrency market.
To start earning passive income and taking advantage of the opportunities available in the cryptocurrency market, download the EcoPool app today. By joining the EcoPool Network, you can begin building a stronger financial foundation and start achieving your long-term goals.
“With these revisions, employment in February and March combined is 16,000 lower than previously reported.”
US civilian unemployment rate. Source: BLS
The unemployment rate remained unchanged at 4.3%.
Bitcoin initially fell on the numbers, as outperformance implied less need for the Federal Reserve to relax financial policy.
As Cointelegraph reported, the Fed made it clear at its latest meeting on interest rates that conditions were conducive to tightening, and that rate cuts were unlikely.
The latest data from CME Group’s FedWatch Tool reflected market expectations of a potential rate hike at the Fed’s next meeting on June 17.
Fed target rate probabilities for June 17 FOMC meeting (screenshot). Source: CME Group
BTC price sees “healthy bullish backtest”
Among traders, the mood was one of cautious optimism with acceptance that recent gains may not hold for long.
Related: Bitcoin Bollinger Bands push key breakout as creator acts on positive signal
“Retesting the highs from the previous consolidation,” Daan Crypto Trades summarized in his latest X analysis.
“Good bounce so far but this is a key level for the bulls to hold.”
BTC/USDT perpetual contract 12-hour chart. Source: Daan Crypto Trades/X
Trading account Cryptic Trades saw Bitcoin retesting its bull market support band, an area formed by two daily moving averages.
“For now, this looks like a healthy bullish backtest before a continuation higher,” it wrote on the day.
BTC/USD one-day chart. Source: Cryptic Trades/X
Earlier, Cointelegraph noted signs that a local top could be in for BTC/USD, notably an “overbought” warning on the relative strength index indicator.
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
- Bitcoin Price
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