Trump's Rate Call Fails to Boost Bitcoin as Jobs Data Rattles Fed Expectations

Bitcoin's price fell below $80,000 after the stronger-than-expected U.S. jobs data in August raised expectations for a Federal Reserve rate increase.

The August employment report showed the economy added 162,000 jobs, with the unemployment rate remaining unchanged at 4.1%.

President Donald Trump responded to the report by calling for lower interest rates, stating that 'Lower the interest rates because the U.S.A. is a much stronger credit.'

The Federal Reserve's next meeting is scheduled for September 15-16, and market pricing moved the probability of a quarter-point increase to roughly 65% after the report.