Bitcoin Price Dips Below $80K Amid Stronger-Than-Expected Jobs Data

Bitcoin's price dipped below $80,000 after stronger-than-expected US employment data was released. The jobs report showed that the US added 162,000 jobs in August, keeping unemployment steady at 4.1%. This led to increased expectations for a Federal Reserve rate hike, which put pressure on Bitcoin's price.

The selling pressure on Bitcoin came as it faced resistance near $82,500 and support around $78,190. Analysts are warning of a possible bull trap unless Bitcoin breaks above $82,500 with strong volume.

The upcoming US inflation report on September 11 may also influence Bitcoin's next move. The SEC has recently approved changes to Nasdaq Texas Rule 5711(d), explicitly naming XRP alongside Bitcoin and Ether as digital assets meeting commodity-based trust standards.