Bitcoin Takes $10K Hit as US Jobs Report Surpasses Expectations
Bitcoin dropped below $80,000 after the US nonfarm payrolls report showed a stronger-than-expected rebound in August. The figure rose by 162,000 jobs, beating expectations for a 56,000 increase.
The report exceeded TD Securities' forecast of 95,000 jobs and is being closely watched ahead of the Federal Reserve's September meeting. Investors are looking to employment data as they assess the central bank's interest-rate outlook.