Bitcoin Stays Above $80,800 as Market Awaits US Employment Data
Crypto assets traded higher at the end of the week as investors prepared for the release of the latest Nonfarm Payrolls report.
Bitcoin maintained its position above $80,800 on Friday, recording a weekly advance of more than 4% as digital asset markets awaited the United States Nonfarm Payrolls release. Ether also showed strength after closing above the $2,500 threshold, while XRP preserved its recent rebound.
The pending jobs report is expected to serve as a key catalyst for near-term macroeconomic expectations. Analysts note that stronger-than-projected employment figures could support higher Federal Reserve policy rates, potentially exerting pressure on risk assets, whereas softer labor data may reduce expectations of tight monetary policy and support ongoing digital asset gains.
From a technical perspective, Bitcoin is holding comfortably above its 50-day, 100-day, and 200-day exponential moving averages, which range between $69,696 and $72,539. However, the daily relative strength index has reached approximately 71, indicating overbought conditions, while moving average convergence divergence data points to a moderation in bullish momentum as the asset encounters resistance near $85,000.
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