$BTC

‌ CRASHES BELOW $80,000 – IS THIS THE FINAL SHAKEOUT BEFORE THE NEXT LEG UP?

Bitcoin sent shockwaves through the market today as it plummeted to an intraday low of $79,607, erasing nearly all the gains it had accumulated over the past week. This sharp downturn comes hot on the heels of a stronger-than-expected U.S. jobs report, which revealed that the economy added 162,000 new positions in August, significantly surpassing economist forecasts of 128,000. The robust labor data has thrown a wrench into the Federal Reserve's rate-cut narrative, with CME Group's FedWatch Tool now pricing in a 59.4% probability of a rate hike at the upcoming September 16-17 FOMC meeting. Just days earlier, Bitcoin was basking in the glory of a weekly high at $82,272, a level not seen since late May 2026, fueled by hopes of a dovish pivot from the central bank. However, the sudden shift in macroeconomic expectations has triggered a wave of long liquidations, with over $150 million in leveraged long positions wiped out in the past 24 hours. Market analysts are now divided – some view this as a classic bull-market shakeout designed to flush out weak hands before a sustained rally, while others warn that further downside toward $75,000 is imminent if the 200-day moving average fails to hold as support. The coming days will be critical as traders digest upcoming speeches from Fed officials and the latest consumer inflation data.