Digital assets stabilise as US jobs data eases caution, despite regional tensions
Markets digest strong US labour numbers while geopolitical friction persists; regulatory shifts in housing finance signal broader institutional acceptance
Bitcoin and Ethereum prices maintained stability in early trading on Friday, 8 May 2026, following the release of a robust US employment report. While both digital assets opened lower than the previous Thursday's levels, they demonstrated resilience against the backdrop of cautious investor sentiment driven by ongoing tensions between the United States and Iran.
Bitcoin opened at $80,015.27, reflecting a 1.7 per cent decline from Thursday's opening price of $81,428.85. Despite the initial dip, the asset recovered slightly to $80,206.01 by 7:18 a.m. ET before settling near $80,103.35 by 10:58 a.m. ET. Ethereum followed a similar trajectory, opening at $2,290.98, down 2.5 per cent from Thursday's $2,350.85, and holding steady at approximately $2,283 by late morning.
Market analysts suggest that the positive backdrop provided by the strong jobs report, combined with potential progress in Middle East peace talks over the weekend, is sufficient to support current valuations. Investors appear confident that these factors will keep Bitcoin above the critical $80,000 threshold and maintain Ethereum near the $2,300 mark, which it has defended throughout the week.
Beyond immediate price action, the regulatory landscape continues to evolve, with significant developments from the Federal Housing Finance Agency (FHFA). Director William J. Pulte has directed the government-sponsored enterprises Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for mortgage qualifications. This directive aligns with President Trump's vision of establishing the United States as a global crypto capital, potentially allowing cryptocurrency owners to utilise their digital assets for home purchases.
Fannie Mae has already announced its intention to begin accepting cryptocurrency as collateral for conventional mortgages, marking a fundamental shift in how the housing finance system interacts with digital assets. FHFA Director Pulte emphasised that the housing system requires a massive upgrade to ensure that individuals who own cryptocurrency can access the same home-buying opportunities as everyone else, stating that it is time for the sector to catch up.
Historically, Bitcoin reached an all-time high of $126,198.07 in October 2025, while Ethereum peaked at $4,953.73 in August 2025. As these assets continue to mature within the broader financial ecosystem, the convergence of positive macroeconomic data and evolving institutional acceptance suggests a complex but potentially upward trajectory for digital currencies in the coming months.
