Bitcoin and ethereum prices today, Friday, August 7, 2026: Crypto prices moving higher following July jobs report

Cryptocurrency markets opened mixed on Friday, August 7, 2026, but rallied intraday following the release of July employment data. Bitcoin started 0.5% lower at $64,259.68 but recovered approximately 1.4% to reach $65,143.87 by mid-morning trading. Ethereum similarly showed resilience, opening slightly down 0.2% at $1,902.20 before climbing to $1,929.36, representing a 1.4% intraday gain. The positive momentum suggests market participants are reacting constructively to labor market signals.

The July jobs report appears to have triggered a broader sentiment shift in digital assets, indicating that crypto investors may be interpreting employment data through a macro lens relevant to monetary policy expectations. Intraday recoveries of this magnitude typically suggest institutional or algorithmic buying pressure responding to headline-driven sentiment swings. Both major cryptocurrencies demonstrated correlated upward momentum, suggesting sector-wide positive sentiment rather than idiosyncratic strength in either asset.

From a technical perspective, the mid-session recovery patterns reinforce crypto's continued sensitivity to macroeconomic data releases, particularly those affecting Federal Reserve policy expectations. The relatively modest absolute price moves (1–1.4% intraday gains) indicate this was a routine data-driven session rather than a volatility spike event.

Sector implication: Cryptocurrency continues to function as a macro sentiment barometer. The positive reaction to labor data may reflect expectations of a more accommodative policy environment, which typically benefits risk assets and inflation-hedge narratives underlying digital currencies.