Bitcoin Price Slips Below $79K Amid Shifting Interest Rate Expectations
Bitcoin's price slipped below $79,000 on September 8 as investors reacted to shifting US interest-rate expectations and geopolitical tensions.
The cryptocurrency had briefly moved above $80K earlier in the day as Treasury yields eased, but a stronger-than-expected US jobs report pushed bond yields higher again, sending BTC back below $80K.
Nischal Shetty, Founder of WazirX, noted that US equities are starting the session on a softer note, but this is not yet a full risk-off environment. The bigger signal for crypto is oil, which has moved above $97 and could keep inflation and Fed expectations elevated.
Shetty said, 'For Bitcoin, the next move may therefore depend less on today's modest equity weakness and more on whether rising energy prices translate into tighter liquidity expectations.' If yields remain contained, crypto can absorb the equity pullback; if yields rise sharply, pressure on higher-beta crypto assets could increase.