Bitcoin Slips Below $80,000 After Strong U.S. Jobs Report Reprices Fed Outlook

Bitcoin briefly fell through the $80,000 level after U.S. employment data for August came in far stronger than markets expected, prompting a rapid repricing of the Federal Reserve's policy path and weighing on risk assets, according to CoinDesk. The U.S. economy added 162,000 jobs in August, sharply above the 55,000 consensus estimate. The unemployment rate held at 4.1%, matching expectations, while July payrolls were revised higher by 43,000. Strong labor figures typically signal economic resilience, but in this market they reduced the perceived urgency for near-term rate cuts. The report said traders quickly shifted positioning toward tighter policy assumptions following the release. Bitcoin dropped about $1,600 within three minutes and briefly traded below $80,000. At the time of writing, it was changing hands at $79,763.95, down 1.4% over the past 24 hours. Ethereum was quoted at $2,461.41 and XRP at $1.41, both lower on the session. Bull Theory estimated that within 25 minutes of the data release, the combined market capitalization of gold, silver and crypto assets fell by roughly $835 billion. Former President Donald Trump weighed in on the move, calling the stock market's drop after the stronger-than-expected jobs report "crazy" and suggesting it reflected a "false reality." He again urged the Fed to cut rates and said that if the central bank does not act, the United States would "stop trading with countries that have a trade deficit with the U.S." He added that the Fed "must become smarter." Amid the broad decline in digital assets, Zcash bucked the trend, rising 13% to $1,034.80. The report also pointed to renewed inflation pressure from energy. Kobeissi data showed the U.S. national average diesel price rising to $5.62 per gallon, a record high, while diesel inventories were at historic lows amid the ongoing Iran conflict. Total crypto market capitalization was estimated at around $2.75 trillion. The sharp move underscored how sensitive digital assets remain to U.S. macro data as interest-rate expectations shift rapidly.