Bitcoin dips under $80K on employment data

Bitcoin’s value declined by over 3%, falling to around $79,200 after strong US job data showed the addition of 162,000 non-farm jobs in August, surpassing expectations. This boosted speculation about the Federal Reserve raising interest rates in September. This performance led to a drop in stocks and bonds, after Bitcoin had previously regained the $80,000 level supported by declining yields and a weak dollar. The strong data prompted analysts to believe that interest rate hikes are likely, as the influence of Treasury liquidity and stablecoin supplies continues to impact the market.

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