Bitcoin Slips Below $80K as Hot Jobs Data Slashes Rate-Cut Bets
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An unexpectedly strong nonfarm payrolls print for August triggered an immediate risk-off reaction across digital assets, with Bitcoin sliding back below the 80,000 level within hours of the release.
The move reflects a broader repricing of Federal Reserve policy expectations. With labor market strength reducing the probability of a near-term rate cut, yield-sensitive risk assets like Bitcoin lost their recent tailwind almost overnight.
Traders are now watching whether 79,000 holds as near-term support, or whether further hawkish repricing drags price toward the next demand zone lower on the chart.