Strong US Jobs Data Sinks Bitcoin Below Key Support

Bitcoin's price slipped 2.1% on September 4 after strong US employment data sent Treasury yields higher and raised expectations for a Federal Reserve rate hike.

The data, which showed stronger-than-expected job growth, weakened demand for risk assets like Bitcoin, pushing its price below key support levels near $78,800-$79,300.

Analysts warn that holding above this zone is crucial to maintain bullish momentum, with potential rebounds targeting $80,200 and $81,800. A break below $78,125 could lead to further declines toward $75,000 or lower.