Bitcoin Falls After Strong Payrolls Revive Fed Rate‑Hike Expectations

Bitcoin retreated 1.69% to $79,220 after the U.S. jobs report showed August payrolls rising far above forecasts, reigniting market expectations of a September Federal Reserve rate hike.

Market reaction to the payroll surprise

The Dow Jones Industrial Average fell 226 points, reflecting broader equity weakness. The stronger‑than‑expected jobs data lifted the probability of a Fed rate increase in September to 58%, according to market pricing.

Impact on major cryptocurrencies

Alongside Bitcoin, several other digital assets posted losses:

• Ethereum dropped 1.52% to $2,449.44.
• BNB slipped 0.57% to $714.91.
• XRP fell 3.53% to $1.39.
• Solana declined 3.05% to $101.20.
• Dogecoin lost 3.30% to $0.08445.

Stablecoins and other tokens

Most stablecoins remained near parity, with USDC at $0.99993 and USDT at $1.00. A handful of altcoins showed modest gains, such as ZEC (+12.09%) and MNT (+1.62%).

Outlook

Analysts note that the renewed probability of a Fed rate hike could keep risk assets, including cryptocurrencies, under pressure until further economic data clarifies the inflation trajectory.