Bitcoin Dives Below $80K as Fed Rate Hike Odds Soar to 60%

Bitcoin dipped below $80,000 following strong US jobs data that raised the chances of another interest rate hike. The Federal Reserve's odds of increasing rates on September 16 now stand at about 60%, according to markets.

The US added 162,000 jobs in August, while unemployment remained steady at 4.1%. This suggests a robust labor market, giving the Fed less reason to rush into cutting rates, as per the Bitfinex Alpha report.