Bitcoin Stuck Below $80K as Jobs Data and Bond Yields Weigh

The Bitcoin price has struggled to breach $80,000 as macroeconomic pressures persist. According to Glassnode research, major overhead supply is concentrated between $83,000 and $86,000.

Friday's U.S. payroll report could reset Federal Reserve expectations, which may impact the cryptocurrency's value. The report showed a gap in net job creation ahead of the August Employment Situation release on September 4.

The 10-year Treasury yield has risen to 4.79%, making fixed-income assets more appealing and increasing borrowing costs across markets. This has restricted Bitcoin's recovery above $80,000.