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Bitcoin falls under $80K amid employment data
Bitcoin's value dropped by over 3%, surpassing the $80,000 mark, following the release of U.S. jobs data that came in stronger than expected. The United States added 162,000 jobs in August, with the unemployment rate remaining steady at 4.1%. This led to declines in stock and bond markets and increased expectations of interest rate hikes by the Federal Reserve—especially after statements from officials indicating support for holding rates steady if inflation continues to decrease. Despite Bitcoin's attempt to recover levels supported by falling yields and a weak dollar, economic data pushed the digital currency down again, amid rising pressure on high-risk assets.
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