🟠 Bitcoin drops below $80,000 on strong US jobs data
Bitcoin fell under the $80,000 level after US payroll data showed a 162,000 jobs gain, reigniting concerns that the Federal Reserve may keep rates elevated for longer.
The stronger-than-expected employment figure lifted Treasury yields and the dollar — both headwinds for risk assets including crypto. The initial selloff was uneven across the market, with the decline not holding uniformly across assets.
Rate expectations remain a key macro driver for Bitcoin, as tighter monetary policy tends to pressure speculative assets by raising the opportunity cost of holding them.
Bitcoin fell under the $80,000 level after US payroll data showed a 162,000 jobs gain, reigniting concerns that the Federal Reserve may keep rates elevated for longer.
The stronger-than-expected employment figure lifted Treasury yields and the dollar — both headwinds for risk assets including crypto. The initial selloff was uneven across the market, with the decline not holding uniformly across assets.
Rate expectations remain a key macro driver for Bitcoin, as tighter monetary policy tends to pressure speculative assets by raising the opportunity cost of holding them.