Crypto
Bitcoin Slumps Below $79K as US Jobs Report Exceeds Expectations
The US jobs report showed a stronger-than-expected result of 162,000 jobs added in August, nearly triple the expected 55-58k. This beat expectations and led to increased Treasury yields and a stronger greenback.
BTC's price was affected by this news, being rejected at $82,400 before dropping below $79,000. The US stock market also fell as a result of the jobs report.
Crypto markets are facing pressure due to the increased risk-aversion in financial markets. However, an analyst remains bullish on Bitcoin's prospects.