Bitcoin slides below $77,000 as labor data and oil prices pressure Fed outlook

Bitcoin fell to about $76,985 after July job‑opening figures showed a stagnant labor market, while crude oil prices hovered near $90 per barrel. The combination of softer employment turnover and rising energy costs has lifted the probability of a September Federal Reserve rate increase to roughly 66%.

Labor market data and Fed expectations

The Job Openings and Labor Turnover Survey (JOLTS) reported 7.3 million openings in July, unchanged from the prior month, and a decline in hires and quits. Revised June figures lowered openings to 7.2 million. CME FedWatch indicated a 66% chance of a September hike, up from about 60% after Fed Chair Kevin Warsh’s Jackson Hole remarks.

Energy prices and Treasury yields

West Texas Intermediate rose 5.2% to $90.22 per barrel, with Brent at $94.65, as geopolitical tensions kept oil markets volatile. Treasury yields also climbed, with the two‑year yield at 4.39% and the 10‑year at 4.79%.

Impact on Bitcoin and crypto flows

Higher yields and a stronger dollar raise the opportunity cost of holding non‑yield‑bearing assets like Bitcoin. Spot Bitcoin ETFs recorded a net outflow of $236.46 million on September 1, reversing the previous day’s inflow of $216.7 million.

Outlook

Upcoming data—including August payrolls (Sept 4), producer prices (Sept 10), and consumer prices (Sept 11)—will influence the Fed’s decision on Sept 16. A weaker payroll report could lower rate‑hike expectations, while continued oil price pressure may sustain inflation concerns.