Bitcoin Crashes Below $80k as Strong Jobs Data Spooks Investors

Bitcoin prices dropped below $80,000 after August jobs data exceeded economists' expectations. The stronger-than-expected data raised the odds of a Federal Reserve rate hike rather than a cut.

In just three minutes, Bitcoin's value fell by $1,600, resulting in a 1.4% decline over 24 hours to $79,763.95. Ethereum and XRP also suffered losses, trading at $2,461.41 and $1.41 respectively, down from their previous values.

On the other hand, Zcash showed resilience, rallying by 13% despite the downturn in the market.