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🟠 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.
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#BTCReclaims80K