Bitcoin and Gold Drop After US August Payrolls Exceed Expectations

Bitcoin (BTC) and gold fell sharply minutes after the release of the U.S. August jobs report, which showed employment growth far above expectations.

Jobs data beats forecasts

The Bureau of Labor Statistics reported 162,000 jobs added in August, compared with a consensus estimate of about 56,000. The 12‑month average monthly gain is 31,000. Revisions to prior months also lifted the employment picture: July’s reported loss of 23,000 jobs was revised to a gain of 21,000, and June’s figure rose from 20,000 to 31,000. The unemployment rate held steady at 4.1%.

Impact on Bitcoin

Bitcoin was trading around $81,340 before the report and fell to $79,661 within a single five‑minute candle, a decline of roughly 1.8%. The price later settled near $79,860.

Impact on Gold

Gold slipped from $4,473 to $4,376 per ounce in the same interval, a loss of about 1.75%.

Market reaction and liquidations

Leverage amplified the moves. CoinGlass recorded $201.33 million in liquidations within one hour, of which $186.01 million were long positions, bringing the 24‑hour liquidation total to $750.29 million.

Broader context

The stronger payrolls revived expectations of a possible Federal Reserve rate hike in September, reversing a prior trend where market participants had priced in a hold. The odds of a rate hike had been near 66% at the end of August but fell after a Fed governor signaled support for a pause. The upcoming consumer‑price index release on September 11 could further influence market direction.