Crypto Market Surges as Bitcoin Holds Above $80,000

The cryptocurrency market experienced a significant boost on Friday as bitcoin held above $80,000. This was accompanied by a surge in altcoins and blockchain infrastructure plays.

Solana (SOL), Chainlink, and rose around 5%, while Near Protocol (NEAR) and Uniswap (UNI) gained roughly 7%. Internet Computer Protocol’s ICP jumped nearly 12%, leading majors higher. The move was driven by a strong session for equities, with the tech-heavy Nasdaq climbing 2.2% to fresh record highs.

The positive market trends were further reinforced by positive labor market data. The economy added 115,000 jobs in April, comfortably above expectations for 62,000, while the unemployment rate held steady at 4.3%. This has added to the constructive backdrop for crypto markets.