Bitcoin drops below $80,000 as US jobs data spurs Fed-hike bets

Bitcoin dropped as much as 3.5% after stronger-than-expected US jobs data revived bets on a September Federal Reserve rate hike, abruptly reversing the cryptocurrency’s latest push above $80,000.
The token fell to as low as $78,649, alongside stocks and bonds after nonfarm payrolls increased 162,000 in August, topping every estimate in a Bloomberg survey, while the unemployment rate held at 4.1%. Two-year Treasury yields climbed and the dollar strengthened.
The reversal gives Bitcoin’s repeated struggle around $80,000 a fresh macro test. The cryptocurrency had reclaimed the level Thursday as falling yields and a weaker dollar buoyed risk assets after Fed Governor Christopher Waller signaled support for holding rates steady if inflation continued to ease.
“A clear rebound doesn’t settle the debate, it arms the hawks,” said Fabian Dori, chief investment officer at Sygnum Bank. “A strong print validates current September hike probabilities. But Treasury cash balances, bank balance-sheet capacity, private credit creation and stablecoin supply matter independently of short-term Fed decisions.”
Shares or crypto-related companies also declined. Crypto exchange Coinbase Global Inc. dropped around 4%, while Bitcoin accumulator Strategy Inc. and stablecoin issuer Circle Internet Group Inc. each slipped around 1%.
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Published on September 7, 2026