Bitcoin retreated after a stronger-than-expected August payrolls report reshaped expectations for the Federal Reserve’s September policy decision. Payroll growth came in at three times the consensus estimate, according to Decrypt, prompting markets to raise the probability of a September rate hike to 58%. The shift in interest-rate expectations weighed on risk assets, with the Dow Jones Industrial Average falling 226 points. Bitcoin also erased some of its earlier gains as traders responded to the prospect of tighter monetary policy. The move places BTC and major U.S. equity benchmarks under pressure as markets digest the latest labor-market signal. No specific payroll figure was provided in the source report.
Source
Decrypt
Written by Moneyiar based on reporting from the cited source and Moneyiar market data.
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