Bitcoin Price Retreats Amid Renewed Fed Rate Hike Concerns and Strong US Employment

Bitcoin's price retreated by 0.69% on Thursday to settle near $64,384 after hitting resistance at the $64,800, $65,000 level.

The decline comes as U.S. employment figures showed initial unemployment claims totaling 199,000 for the week ending August 1, falling short of the anticipated 204,000 threshold and indicating a resilient labor market.

Market participants now assign a 54.71% probability to a 25-basis-point Federal Reserve rate increase in September, which could further reduce investor appetite for speculative assets like Bitcoin.