Bitcoin holds above $80,800 as bulls target $85k ahead of NFP

Key takeaways

• Bitcoin, Ethereum and XRP extended their weekly gains on Friday ahead of the U.S. Nonfarm Payrolls report.
• BTC remains above its 50-day, 100-day and 200-day exponential moving averages.
• Bitcoin faces resistance at $85,000, while the first major support zone lies between $69,696 and $72,539.

Bitcoin, Ethereum and XRP extended their weekly gains on Friday as traders awaited the U.S. Nonfarm Payrolls report for the market’s next directional catalyst.

Bitcoin traded above $80,800 after gaining more than 4% during the week. Ethereum also strengthened after breaking and closing above the important $2,500 resistance level.

XRP maintained a cautiously bullish near-term outlook after rebounding from a key support level earlier in the week.

US jobs report could drive crypto volatility

The U.S. Nonfarm Payrolls report could influence expectations for the Federal Reserve’s next monetary policy decision.

A stronger-than-expected employment report may reinforce expectations that interest rates w...