Bitcoin dips below $80,000 as August jobs report reshapes Fed outlook

Bitcoin slipped below the $80,000 threshold after a stronger‑than‑expected August jobs report raised expectations that the Federal Reserve may keep policy tighter for longer.

Jobs data lifts labor‑market optimism

The Bureau of Labor Statistics reported non‑farm payrolls increased by 162,000 in August, far exceeding the recent 12‑month average of 31,000. The unemployment rate held steady at 4.1 % and average hourly earnings rose 0.3 % to $37.75, a 3.1 % year‑over‑year gain.

Impact on financial markets

Following the release, the two‑year Treasury yield rose to near 4.40 % (up from just above 4.33 %) and the 10‑year yield moved to around 4.80 % (up from just under 4.75 %). The dollar index also ticked higher, reaching 99.932 from about 99.035.

Fed policy implications

Fed Governor Christopher Waller highlighted that a resilient labor market reduces the argument for an immediate pause in rate hikes, shifting focus toward inflation trends. He indicated that August inflation data would heavily influence his stance ahead of the September policy meeting.

Upcoming macro tests for Bitcoin

• September 11: Release of the August Consumer Price Index (CPI).
• September 15‑16: Federal Open Market Committee meeting, with the policy decision on September 16.

Bitcoin’s price movement will likely react to the CPI outcome, with a softer reading potentially supporting a hold narrative and a hotter reading reinforcing expectations of tighter policy.