The U.S. Bureau of Labor Statistics reported 162 000 new jobs in August, significantly exceeding the 53 000 forecast by economists. The unemployment rate remained stable at 4.1%. Following the report, the probability of a Federal Reserve interest rate hike at the September 15-16 meeting rose to 58%, up from 49.4% the previous day.
Bitcoin dropped below $80 000 after reaching a four-month peak of $82 240 earlier on Friday. The asset fell more than 2% within minutes of the data release, trading near $79 300. This shift occurred as Treasury yields increased, with two-year notes hitting their highest level since January 2025.
Broader market reactions included a 226-point decline in the Dow Jones Industrial Average and a drop in gold prices to $4 380 per ounce. Meanwhile, spot Bitcoin ETFs recorded $730.8 million in net inflows. Despite the price correction, the total cryptocurrency market capitalization remained near $2.67 trillion.
President Donald Trump commented on the jobs data via Truth Social, reiterating his call for the Federal Reserve to lower interest rates. The current market environment contrasts with July, when weaker employment data reduced rate-hike expectations and supported crypto growth. The next jobs report is scheduled for release on October 2.