Bitcoin Slips Below Key $80,000 Resistance Amid Fed Rate Fears

Bitcoin's recent push above $80,000 has lost momentum, with the cryptocurrency trading below this key level for the first time in a while. The world's largest digital currency slipped back below $80,000 after investors reacted to stronger-than-expected US employment data and renewed concerns that the Federal Reserve could keep monetary policy tighter.

The latest US jobs report showed employers added 162,000 jobs in August, exceeding market expectations. This has increased concerns that the Federal Reserve could have more room to raise interest rates or maintain tighter policy for longer, which can create pressure on riskier assets like cryptocurrencies.

Bitcoin's price had climbed above $82,000 during the recent rally but failed to sustain those gains. Cooling ETF inflows added to pressure on the market, with spot Bitcoin ETF inflows reportedly dropping sharply by 76% from the previous day's level.