Bullish Sentiment Reverses Amid Strong US Jobs Report

The cryptocurrency market showed renewed bullish sentiment in its final week of August, with Bitcoin (BTC) finishing the month in the green for the first time during a bear market. Several altcoins also posted major weekly gains.

However, this momentum was short-lived as a strong US jobs report released on Friday reversed the trend. BTC briefly topped $81,000 earlier in the week before sliding to just under $80,000, highlighting macro risk for price. The DeFi and DEX activity also saw a decline, while near-term adoption signals remained low.