WS Investor
05 Sep 2026, 12:36
Bitcoin Holds Near $80,000 After Strong U.S. Jobs Report Triggers Sharp Reversal
Bitcoin traded near $79,641 on Saturday, up 0.24%, after recovering from a sharp selloff triggered by stronger-than-expected U.S. employment data.
Bitcoin had climbed above $82,000 before the August jobs report, supported partly by Fed Governor Christopher Waller’s comments favoring unchanged rates if inflation continued to cool. The rally reversed after nonfarm payrolls increased by 162,000, far above expectations, while unemployment remained at 4.1%.
The strong labor data pushed Treasury yields higher and increased expectations for a Federal Reserve rate hike in September, pressuring rate-sensitive assets including cryptocurrencies. Bitcoin subsequently fell below $79,000 before recovering toward $80,000.
Despite the volatility, Bitcoin remains up about 1.4% over the five-day period shown in the chart. Attention now turns to the September 11 U.S. CPI report, which could play a major role in determining the Fed’s next move and Bitcoin’s near-term direction.
Bitcoin traded near $79,641 on Saturday, up 0.24%, after recovering from a sharp selloff triggered by stronger-than-expected U.S. employment data.
Bitcoin had climbed above $82,000 before the August jobs report, supported partly by Fed Governor Christopher Waller’s comments favoring unchanged rates if inflation continued to cool. The rally reversed after nonfarm payrolls increased by 162,000, far above expectations, while unemployment remained at 4.1%.
The strong labor data pushed Treasury yields higher and increased expectations for a Federal Reserve rate hike in September, pressuring rate-sensitive assets including cryptocurrencies. Bitcoin subsequently fell below $79,000 before recovering toward $80,000.
Despite the volatility, Bitcoin remains up about 1.4% over the five-day period shown in the chart. Attention now turns to the September 11 U.S. CPI report, which could play a major role in determining the Fed’s next move and Bitcoin’s near-term direction.
