Bitcoin’s $120K Case Faces 3.8% Wage Growth After U.S. Payrolls Miss

Bitcoin traded below $80,000 after a sharp U.S. nonfarm payrolls miss, with April job gains at 62,000 versus March’s 172,000. The bullish $120,000 narrative was tempered by average hourly earnings rising to 3.8% year-on-year from 3.5%, a backdrop that can keep rate-cut hopes in check. Analysts also pointed to technical levels near $77,500 and $75,000 as key downside markers.