Bitcoin Slips Below $80K as Strong Jobs Data Lifts Fed Rate-Hike Odds
Bitcoin fell below $80,000 after August jobs data tripled forecasts, pushing Fed rate-hike odds to around 57-60% for September.
Why it matters
The convergence of strong labor data, rising oil prices, and elevated rate-hike odds creates a more challenging environment for risk assets including Bitcoin, as higher rates make government bonds comparatively more attractive and energy-driven inflation complicates the Fed's policy path.
Key facts
August U.S. employers added 162,000 positions, nearly triple the 53,000 forecast
162,000 jobsReported by Decrypt
Unemployment held at 4.1%
4.1 %Reported by CryptoPotato
Dow Jones fell 614.88 points, or 1.15%, to 52,799.37
614.88 pointsReported by Decrypt
Nasdaq Composite slipped 0.19% to 26,457.73
0.19 %Reported by Decrypt
Oil prices pushed toward $100 a barrel on renewed U.S.-Iran hostilities in the Strait of Hormuz
100 USD/barrelReported by Decrypt
What happened
Bitcoin traded around $78,524 on Tuesday, down roughly 0.72%, while the S&P 500 fell 0.37% to 7,689.80 and the Dow dropped 614.88 points to 52,799.37, according to Decrypt. The moves followed an August jobs report showing 162,000 positions added — nearly triple the 53,000 forecast — which CryptoPotato reported pushed September Fed rate-hike odds to about 60%. Decrypt placed those odds at roughly 57-59% on the CME FedWatch tool. Decrypt attributed market pressure partly to oil prices approaching $100 a barrel on renewed U.S.-Iran hostilities in the Strait of Hormuz. CryptoPotato cited Bitfinex analysts saying this week's inflation report would be a key test for Bitcoin, and noted U.S. spot Bitcoin ETFs drew nearly $1 billion in net inflows last week. CryptoPotato also reported unemployment held at 4.1% and two-year Treasury yields rose above 4.34%.
How the story developed
- Update
August U.S. jobs report released showing 162,000 positions added
Employers added nearly triple the 53,000 forecast, unemployment held at 4.1%
- First report
First report by Decrypt
Bitcoin Holds, Wall Street Stalls as Oil Shock Revives Fed Hike Bets
- Update
Bitcoin traded around $78,524 as markets reacted to jobs data
Bitcoin down 0.72%, S&P 500 down 0.37%, Dow down 1.15%
- Independent corroboration
Independently corroborated by CryptoPotato
Bitcoin Calms Below $80K as Fed Hike Odds Climb: Bitfinex Alpha
- Update
CryptoPotato published Bitfinex Alpha report noting Fed hike odds and ETF inflows
Spot Bitcoin ETFs recorded nearly $1 billion in net inflows the prior week
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 8 Sept 2026, 18:59 UTC: Decrypt — 1 independent source, 1 reports
- 8 Sept 2026, 22:09 UTC: CryptoPotato — 2 independent sources, 2 reports
Affected entities
Also mentioned: Nasdaq
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Decrypt Crypto media | Bitcoin Holds, Wall Street Stalls as Oil Shock Revives Fed Hike Bets | Original | |
| CryptoPotato Crypto media | Bitcoin Calms Below $80K as Fed Hike Odds Climb: Bitfinex Alpha | Independent |
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