Bitcoin and Altcoins Surge as Cooling Labor Market Fails to Deter Crypto Bulls

Crypto markets defy traditional risk-off logic as employment data softens—digital assets rally while Wall Street scratches its head.

Market Momentum Builds

Bitcoin leads the charge upward with altcoins following closely behind. Trading volumes spike as institutional money flows into major cryptocurrencies, ignoring conventional macroeconomic warnings.

The Fed Factor Fades

Cooling job numbers typically trigger risk aversion—but not this time. Crypto traders treat the news as bullish, betting on prolonged accommodative policies from central banks.

Altcoin Season Activated

Ethereum, Solana, and other major altcoins post significant gains alongside Bitcoin. The rally demonstrates crypto's evolving decoupling from traditional market sentiment—and maybe its growing maturity.

Traditional finance analysts scramble to update their models while crypto natives stack sats. Another day, another reminder that sometimes the smart money isn't actually that smart.

Crypto trades the macro narrative

According to crypto.news data, bitcoin (BTC), the sector’s flagship asset, led the charge with a decisive 2.06% climb. It shook off an early dip near $109,347 to breach $113,357, ultimately consolidating its gains just above $113,000. This established a firm bullish tone for the entire digital asset complex.

Beyond BTC, the rally revealed a strong appetite for both established altcoins and high-beta speculative plays. ethereum (ETH) posted a solid 1.4% gain, but the more telling metric was a significant 6.8% surge in its trading volume, which ballooned to $40.56 billion.

ETH’s spike in activity suggests that while its price movement was modest, institutional and large-scale traders were actively accumulating or repositioning their portfolios, anticipating it to be a key beneficiary of improved liquidity conditions.

The momentum was even more pronounced further down the cap scale. Cardano (ADA) notably outperformed the broader market, jumping over 3.25%. The Layer 1 protocol Sui (SUI) emerged as the day’s standout performer, vaulting 4% to trade at $3.44 at the time of writing.

Perhaps most indicative of the pure risk-on sentiment was the concurrent rally in memecoins. Shiba Inu (SHIB) rose 1.93%, while its counterparts Pepe (PEPE), FLOKI, and dogwifhat (WIF) saw more aggressive inflows, climbing 2.51%, 3.06%, and 3.76% respectively. This uniform green across such a diverse set of assets underscores a market-wide bet on easing financial conditions, not isolated fundamental developments.