After a busy early morning, market action has slowed down significantly ahead of the three-day weekend in U.S., with bitcoin (BTC) trading around $79,500, down 1.5% over the past 24 hours.
U.S. stocks are modestly lower, both the Nasdaq and S&P 500 off 0.3%. The weakest name is Tesla, down 6.5% after what critics say was an underwhelming introduction of its Cybercab on Thursday evening.
Crypto-related stocks are mostly lower too, with Strategy (MSTR) down 1.9%, Coinbase (COIN) down 3.8%, and Circle off 1.15%.
Neocloud names are posting gains, led by IREN (IREN), up 4.8%, and Bitdeer (BTDR), up 3%.
The athletics program for the University of Florida on Friday announced a multi-year partnership with Ripple, the company behind the XRP token.
As part of the deal, the XRP logo will get prominent positioning on the field at Florida’s Ben Hill Griffin Stadium, where the football team plays its home games.
“Great jobs number just announced, breaking all estimates (except mine!) by double and triple - And you haven’t seen anything yet,” said President Trump on Truth Social.
“Lower the interest rates because the U.S.A. is a much stronger credit than it was just a short time ago,” he continued.
The president also threatened a trade war: “Lower the rate or I’ll stop trading with countries with which we have a deficit.”
“The Fed Board, with its great new leader, must get smart - BE PATRIOTS for a change.”
Following the blowout U.S. jobs report, bitcoin fell more than 2% to around $79,000, while the Nasdaq 100 gained 0.5%, extending the divergence between the two assets. Their 20-day rolling correlation currently stands at -0.2.
The last time the correlation turned negative was at the end of the fourth quarter of 2025, when bitcoin began retreating from its October all-time high. Before that, it occurred in July 2024, as bitcoin consolidated between $60,000 and $70,000.
Source
This article is syndicated for educational reading. For the latest updates, visit the original publisher.
Read on coindesk.com
