Bitcoin Stuck at $80,000 Amid US Job Growth and Rate Hike Fears

Bitcoin's price struggle around $80,000 comes after stronger US employment data revived expectations of another Federal Reserve rate hike. The August US payrolls report showed the economy added 162,000 jobs, nearly three times the 56,000 economists had expected.

The unemployment rate held at 4.1%, while average hourly earnings rose 0.3% from July and 3.1% from a year earlier. This data reversed part of the macro trade that helped Bitcoin cross $80,000, with the probability of a September Fed rate hike climbing to 62%.

Bitcoin's inability to hold $80,000 comes as ETF demand and expectations for US monetary policy pull the market in opposite directions. Spot ETF buying helped BTC break the level, while the payroll surprise brought interest-rate risk back into focus before the Fed's Sept. 15-16 meeting.