Bitcoin Drops Below $80,000 as Hot Jobs Data Spurs Fed-Hike Bets
13 Articles
13 Articles
Bitcoin Price Briefly Dips Below $79K as Jobs Report Cuts Fed Bets Bitcoin News ETHNews
August payrolls rose 162,000, with unemployment steady at 4.1%. Fed odds shifted to roughly 60% for a hike to 375–400 bps. Bitcoin dipped below $79,000 as $758.15M was liquidated in 24 hours. CryptoQuant data shows whales aren’t selling despite the drop. August CPI lands September 11, seen printing around 0.2–0.3%. Bitcoin briefly traded below $79,000 […]
Critical August employment data, which will determine the course of monetary policy in the US, has been released. Non-farm payrolls increased by 162,000, far exceeding the market expectation of 55,000, while the unemployment rate was 4.1 percent, in line with expectations.
The fact that US non-farm payrolls increased by nearly three times the expected amount dragged down Bitcoin and gold within minutes. The data reinforced expectations that the US Federal Reserve (Fed) may raise interest rates in September, reversing the recovery seen earlier in the week.
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
