Bitcoin falls below $80,000 as hot US payrolls revive Fed hike risk
The 162,000 jobs gain lifted yields and the dollar, but the first selloff did not hold uniformly. The post Bitcoin falls below $80,000 as hot US payrolls revive Fed hike risk appeared first on CryptoSlate.
Bitcoin fell below $80,000 on Friday after a much stronger-than-expected US jobs report abruptly raised rate-pressure concerns across crypto and other markets. The Bureau of Labor Statistics said nonfarm payrolls increased by 162,000 in August, compared with a Reuters consensus of 56,000. The release arrived at 8:30 a.m. ET, and was followed immediately by a sharp cross-asset reaction. Unemployment held at 4.1%, while earlier payroll estimates were revised up by a combined 55,000. Bitcoin lost about 2% and slipped below $80,000 in the immediate reaction. Within hours Bitcoin market data from…
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Source: CryptoSlate
Original report: CryptoSlate
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