Bitcoin slips under 80k as strong US jobs data shifts rate bets

Bitcoin dropped below 80,000 dollars after briefly crossing 82,000 last week. The move followed Friday’s robust US employment figures that raised the odds of a Federal Reserve rate hike in September.

Traders are now watching this week’s producer and consumer price indexes. Hotter-than-expected readings could reinforce expectations for tighter policy and add pressure on risk assets.

LMAX strategist Joel Kruger highlighted the market’s resilience, noting that bitcoin absorbed higher Treasury yields and oil prices without major technical damage. QCP Capital sees 80–82k as a key resistance zone and 77–78k as important support.

Flows into spot bitcoin ETFs have turned erratic as investors reposition ahead of the inflation prints.

Based on information from https://cryptonews.net