Bitcoin falls below $80,000 on rate hike expectations
Bitcoin's price fell below the $80,000 level, reaching approximately $79,382, after US job data came in stronger than expectations. This boosted the likelihood of the Federal Reserve raising interest rates in September to about 60%, up from 49% prior to the data release. Additionally, oil prices rose to around $97 per barrel amid rising tensions between the United States and Iran, following the US military's announcement of strikes on three Iranian oil tankers, adding pressure on high-risk assets.
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