Surprise nonfarm payrolls print sends Bitcoin back below 80K
60-second summary
Surprise August non‑farm payrolls add 336,000 jobs, far exceeding forecasts and prompting traders to downgrade expectations for a Fed rate cut this month, which pushes Bitcoin below the $80,000 threshold. The stronger labor data fuels dollar strength and risk‑off sentiment, weighing on crypto assets and suggesting continued volatility as investors reassess monetary‑policy outlooks.
The US economy added far more jobs than expected in August, pressuring Bitcoin lower as traders repriced the odds of a Federal Reserve rate cut this month.