{
  "id": 6073490,
  "title": "Bitcoin drops below $80,000 as hot jobs data spurs US Federal Reserve hike bets",
  "url": "https://urgent.news/2026/09/07/bitcoin-drops-below-80-000-as-hot-jobs-data-spurs-us-federal-reserve",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-07T00:52:00.000Z",
  "source": {
    "name": "Straits Times Business",
    "slug": "straits-times-business",
    "url": "https://www.straitstimes.com/business/bitcoin-drops-below-80000-as-hot-jobs-data-spurs-us-federal-reserve-hike-bets"
  },
  "original_language": "en",
  "account": "Bitcoin plummeted nearly 3.5% following stronger-than-anticipated US jobs data, reigniting speculation about a potential September Federal Reserve rate hike. The cryptocurrency's value plummeted to as low as $78,649, aligning with the decline in stocks and bonds. The nonfarm payrolls data showed an increase of 162,000 in August, surpassing all expectations in a Bloomberg survey, while the unemployment rate remained at 4.1%. Two-year Treasury yields rose, and the US dollar strengthened. This shift presents a new macro challenge for Bitcoin, which had previously reached $80,000 on September 3rd. At that time, falling yields and a weaker dollar supported risk assets following Fed Governor Christopher Waller's indication of maintaining steady rates if inflation continued to ease. Fabian Dori, chief investment officer at Sygnum Bank, noted that a clear rebound does not resolve the debate; it merely strengthens the arguments for a September hike. Dori emphasized that factors such as Treasury cash balances, bank balance-sheet capacity, private credit creation, and stablecoin supply are independent of short-term Fed decisions. Additionally, shares of crypto-related companies experienced declines: Coinbase Global fell by about 4%, while Bitcoin accumulator Strategy and stablecoin issuer Circle Internet Group each slipped around 1%.",
  "summary": "Stronger-than-expects job data in August revived bets on an interest rate hike in September.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "ABC News AU",
        "title": "Live: Wall Street slips as bond yields rise, ASX treading water",
        "url": "https://urgent.news/2026/09/06/live-wall-street-slips-as-bond-yields-rise-asx-treading-water",
        "published": "2026-09-06T21:06:13.000Z"
      },
      {
        "outlet": "Qatar Tribune Business",
        "title": "Inflation data to set Wall Street’s tone",
        "url": "https://urgent.news/2026/09/06/inflation-data-to-set-wall-streets-tone",
        "published": "2026-09-06T21:29:00.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Wall Street futures mixed after jobs data lifts Sept Fed hike odds",
        "url": "https://urgent.news/2026/09/07/wall-street-futures-mixed-after-jobs-data-lifts-sept-fed-hike-odds",
        "published": "2026-09-07T02:14:08.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}