Bitcoin dips below $80K, dragging CRCL and Coinbase stocks down amid strong US job data.

Bitcoin fell below the $80,000 mark after failing to break a key resistance level, causing a 1.34% drop in total crypto market value to about $2.66 trillion. Crypto stocks CRCL and Coinbase declined sharply, with CRCL down over 7% and Coinbase falling 2.45%, pressured by stronger-than-expected US labor data that dampened hopes for near-term Federal Reserve rate cuts. The resilient US job market suggests interest rates may stay higher longer, weighing on speculative assets like cryptocurrencies and related stocks. Investors are watching key support and resistance levels for these stocks as Coinbase prepares to release its quarterly earnings report.