Bitcoin (BTC-USD) fell on Friday, dipping below the $80,000 mark as the week came to an end. The world’s largest digital coin is now trading about 58% lower than its all-time high from last October. This slide comes as other tokens, such as Ethereum (ETH-USD) and Solana (SOL-USD), also faced losses.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Jobs Report Could Help the Crypto Market
Many people hope that today’s update on the number of new jobs will help the price recover. Experts believe the report will show that the economy added 65,000 jobs last month. If these numbers are positive, it might convince the Federal Reserve to lower interest rates later this year. When interest rates are low, it becomes cheaper to borrow money, which often leads people to buy more Bitcoin.
AI Earnings Fuel Stock Market Growth
While the stock market has been growing quickly, Bitcoin has struggled to keep up. This is mostly because big tech companies are reporting huge profits from artificial intelligence. Unlike stocks, digital coins do not have company earnings to show off. Instead, their price depends mostly on how confident investors feel. Because there is no AI boost for crypto right now, the market is looking for other reasons to grow.
Traders are currently very cautious about what the Federal Reserve will do next. According to the CME FedWatch tool, there is only a 9% chance that interest rates will be cut in 2026. Most people believe that rates will stay exactly where they are for the rest of the year.
If the jobs data is much better than expected, those odds could change, which might give the market the energy it needs to get back above $80,000.
At the time of writing, Bitcoin’s price is sitting at $80,198.24.
