Bitcoin Slips Below $80,000 Amid Fed Rate Hike Fears and Rising Oil Prices

Bitcoin's price fell below $80,000 on Monday, dipping by approximately 0.3% to $79,724.8 at 08:01 Moscow time, according to investing.com.

The decline comes after the cryptocurrency briefly rose above $82,000 last week, reaching a more than three-month high of around $82,178.6 on Thursday before retreating following the release of US employment data on Friday.

Data published on Friday showed that US employers created 162,000 jobs in August, almost three times economists' expectations, while the unemployment rate remained at 4.1 per cent.

The report prompted markets to put the probability of a Fed rate rise at its 15-16 September meeting at around 60 per cent, up from prior to the data release when this figure stood at 49 per cent, according to CME FedWatch data.