Bitcoin Slides as Blowout Jobs Report Revives Fed Hike Odds — SkimNews
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- Bitcoin fell below $80,000 after touching a four-month high of $82,240 earlier Friday, giving back the gain within minutes of the jobs report's release as rate-hike odds spiked.
- The U.S. economy added 162,000 jobs in August—nearly triple the 53,000 economists polled by Dow Jones expected—with unemployment holding at 4.1% and June and July payrolls revised higher.
- Fed funds futures pushed September rate-hike odds to 58% from 49.4% a day earlier, per the CME FedWatch tool, directly undermining Fed Governor Christopher Waller's Thursday signal that he'd 'be inclined to support' holding rates steady.
- The Dow Jones Industrial Average fell 226 points (0.4%) and gold dropped to a session low of $4,380 an ounce as Treasury yields rose across the curve, with the two-year note hitting its highest level since January 2025.
- President Trump posted on Truth Social that it was a 'great jobs number' while renewing his demand that the Fed cut rates and threatening to halt trade with countries running a surplus against the U.S.
- Spot Bitcoin ETFs logged $730.8 million in net inflows, extending the buying streak that started Thursday on rate-pause optimism—even as Bitcoin's spot price reversed from its intraday high.
Why it matters: The 162,000-job print—nearly triple the consensus—collapses the dovish case Fed Governor Waller built just 24 hours earlier, and the 8.6-point swing in September hike odds makes the September 15-16 Fed meeting consequential rather than procedural. With the article noting higher rates 'raise the bar' for crypto returns versus Treasuries, the $730.8 million in ETF inflows arriving alongside a 2% BTC drop signals a genuine tug-of-war between institutional buyers and macro gravity.
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