Bitcoin Slips Over 2% Amid Stronger-Than-Expected US Jobs Data

Bitcoin dropped over 2% on Friday after stronger-than-expected US August jobs data showed a payroll increase of 162,000. The Federal Reserve rate hike odds rose to 60%, causing concern among investors. Despite the pullback, Bitcoin is set for its third consecutive weekly gain of about 3%, fueled by a recent $20,000 rally over 20 days and strong inflows into US spot Bitcoin ETFs.

The market saw historic leveraged position liquidations worth $11.4 billion as a result of this rally. The Federal Reserve's upcoming decisions remain a key focus for investors, with many watching to see how they will respond to the stronger-than-expected jobs data.