Bitcoin Drops Below $80,000 on US Jobs Report

Bitcoin experienced a significant price drop on Friday, September 4, 2026, falling below the $80,000 mark after the release of a robust U.S. jobs report for August. The cryptocurrency saw its value decline sharply, with some reports indicating a drop of approximately $1,600 within minutes of the data's release. The August nonfarm payrolls report showed an increase of 162,000 jobs, significantly exceeding economists' expectations of around 56,000. The unemployment rate remained steady at 4.1%. This stronger-than-expected economic data fueled speculation that the Federal Reserve might maintain or even increase interest rates to combat potential inflation, rather than cutting them. This outlook contrasts with previous expectations of rate cuts, which had supported risk assets like Bitcoin. The market reaction was swift, with Bitcoin trading near $79,570 after the report, down from levels above $81,000 earlier in the day. The cryptocurrency had recently reclaimed the $80,000 level on Thursday, September 3, following a period of falling yields and a weaker dollar that had bolstered risk assets.