The crypto market is showing signs of recovery on August 8 as traders react to weaker-than-expected U.S. jobs data and lower expectations for another Federal Reserve rate hike.

Bitcoin (BTC) briefly moved above $65,000, while Strategy (MSTR) shares closed above $100. Pi Network (PI) also stood out among altcoins, gaining about 4.6% to around $0.091.

The broader market remains cautious, but the latest move suggests that macroeconomic expectations are giving crypto bulls some room to recover.

Missed yesterday’s market action? Read our Crypto Market Update August 7 to see how Cardano, XRP, ETF flows, and altcoin performance shaped the previous trading session.

Why Is the Crypto Market Up Today?

One of the biggest drivers behind today’s move is…