Bitcoin Price Tumbles Below $80K Amid Tightening Fed Expectations

Bitcoin's price fell below $80,000 after stronger U.S. jobs data was released, increasing expectations for tighter Federal Reserve policy.

Donald Trump renewed his calls for lower interest rates despite the stronger August employment report, arguing that a stronger economy should support lower borrowing costs.

The Fed's next two-day meeting is scheduled for September 15 and 16, and Governor Christopher Waller has said improving inflation could support keeping rates unchanged or even increasing them if inflation progress weakens.

Bitcoin faces resistance near $82,300-$82,700, while support is forming around $78,500-$79,500. The cryptocurrency's short-term structure has weakened after buyers failed to maintain the move above $82,000.