Crypto
US Jobs Report Sends BTC Price Tumbling Below $80,000
The recent US employment data has sent shockwaves through the crypto market, with Bitcoin (BTC) plummeting to below $80,000.
According to the latest figures, the US economy added a significant 162,000 jobs in August, exceeding expectations.
This robust employment data has led to a surge in expectations that the Federal Reserve will raise interest rates in September, with swap markets now pricing in a 60% probability of a hike.
As a result, BTC's price dropped sharply, reaching as low as $79,150 before rebounding slightly.