Bitcoin falls below $80,000 as August jobs report shifts Fed expectations

Bitcoin dropped below $80,000 after a stronger-than-expected August jobs report altered expectations for the Federal Reserve’s policy path, according to CryptoSlate. The report said August payroll data weakened the case for policymakers to remain patient, increasing the market’s focus on upcoming inflation data. Bitcoin’s next major volatility test is expected to come with the US Consumer Price Index release scheduled for Sept. 11. The shift in policy expectations adds a fresh macroeconomic catalyst for Bitcoin and other crypto assets, including AKE, HOT, LIT, NEX, MATIC, POL and RED. Market participants will be watching whether the CPI data reinforces or counters the signal from the August employment report. Bitcoin’s move below the $80,000 level places the cryptocurrency at the center of changing expectations around the Federal Reserve, with the September inflation reading now serving as the next key event for digital-asset markets.