Bitcoin drops below $80,000 after 3.5% slide as strong U.S. jobs data lifts dollar
AI Market Summary
Bitcoin slipped below the $80,000 level as a strong US jobs report reinforced expectations for tighter Fed policy, lifting the dollar and pressuring risk assets. While Fed Governor Waller signaled openness to holding rates if inflation cools, the near-term macro impulse is hawkish. Crypto-linked equities echoed the risk-off move, with NCSKCOIN2USD down ~4% and related names weaker.
Impact level
● High
Affected assets
BTC/USDT-1.98%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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Bitcoin fell below the $80,000 mark, down 3.5% on the day, as strong U.S. employment data reinforced expectations of a September rate hike by the Federal Reserve and pushed the dollar higher. The stronger dollar weighed on risk assets, dragging crypto-related stocks lower. Coinbase fell nearly 4%, while Strategy Inc. and Circle Internet Group each slipped about 2%. Fed Governor Christopher Waller suggested he could support keeping rates steady if inflation continues to cool down.
