Bitcoin Price Falls Below $80,000 Amid Interest Rate Expectations

Bitcoin's price has fallen below $80,000 for the second time in recent days, currently sitting at $79,621.90 over the past 24 hours.

The decline is attributed to a combination of factors, including expectations regarding the US Federal Reserve's decision on interest rates and stronger labor market data, which has increased the likelihood of a rate hike in September to about 57%.

This week's inflation figures will be closely watched by investors, with a rise potentially putting more pressure on Bitcoin. However, if expectations ease, the price may have a chance to recover.