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Bitcoin has continued trading above the $80,000 level as traders weigh whether the latest pullback is a healthy bullish retest or the beginning of a deeper correction.
The cryptocurrency has held up relatively well despite stronger-than-expected US labor market data, which reduced expectations for Federal Reserve rate cuts and briefly pressured risk assets across global markets.
According to the latest Labor Department report, the US economy added 115,000 jobs in April, well above economist expectations of 65,000. The unemployment rate remained steady at 4.3%.
The report also included revisions to prior months. February payrolls were lowered by 23,000 jobs to a loss of 156,000, while March payroll growth was revised higher to 185,000 jobs. Overall, combined revisions left total employment 16,000 lower than previously reported.
For Bitcoin, the data initially triggered downside pressure because stronger labor market conditions reduce the urgency for Fed rate cuts.
After its latest policy meeting, the Fed signaled that inflation risks and economic resilience continue to support a cautious approach to monetary easing. Per the CME FedWatch Tool, markets assign only a 6% probability to a rate cut at the Fed’s June meeting.
That matters because Bitcoin and other risk assets have benefited in recent cycles from expectations of lower interest rates.
Despite the macroeconomic headwinds, many crypto traders remain cautiously optimistic about Bitcoin’s current setup.
Trader Daan Crypto Trades characterized the latest move as a retest of prior consolidation highs, saying Bitcoin’s rebound from support still appears constructive for bulls.
Analysts at Cryptic Trades said Bitcoin is testing its bull market support zone, described as being formed by key daily moving averages. They added that the current configuration resembles a typical bullish backtest before another potential move higher.
On the 12-hour chart, BTC/USDT is reported to be holding a broader bullish structure while price fluctuates near $80,000.
Round-number price levels have historically been important in Bitcoin’s market psychology, often acting as major liquidity zones where both buyers and sellers become more active.
The $80,000 area previously served as a key reversal point during the November 2025 correction, when Bitcoin rebounded sharply before moving toward $92,000.
That history is driving close attention to whether BTC can continue defending the zone even as macroeconomic pressure builds.
The current setup also creates a notable contradiction for Bitcoin. A strong labor market reduces the likelihood of Fed rate cuts, which typically weighs on crypto prices. At the same time, resilient employment and consumer confidence can still support broader demand for risk assets.
For now, Bitcoin is trading between these opposing forces as market participants wait for the next major breakout signal.
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