Bitcoin Holds Above $80,800 as Bulls Target $85k Ahead of NFP

Bitcoin and other major cryptocurrencies extended their weekly gains on Friday as traders awaited the U.S. Nonfarm Payrolls report, which could influence expectations for the Federal Reserve's next monetary policy decision.

The report may reinforce expectations that interest rates will remain elevated or rise further if employment data is stronger than expected, potentially weighing on cryptocurrencies and other risk assets.

Bitcoin traded above $80,800 after gaining more than 4% during the week, maintaining a firmly bullish technical structure with its price comfortably above key exponential moving averages.