Bitcoin falls below $80,000 as hot US payrolls revive Fed hike risk

Bitcoin fell below $80,000 on Friday after a much stronger-than-expected US jobs report abruptly raised rate-pressure concerns across crypto and other markets.The Bureau of Labor Statistics said nonfarm payrolls increased by 162,000 in August, compared with a Reuters consensus of 56,000. The release arrived at 8:30 a.m. ET, and was followed immediately by a sharp cross-asset reaction. Unemployment held at 4.1%, while earlier payroll estimates were revised up by a combined 55,000.Bitcoin lost about 2% and slipped below $80,000 in the immediate reaction. Within hours Bitcoin market data from CryptoSlate put BTC back near $79,570, still up 0.83% over 24 hours. Ethereum market data showed Ethereum near $2,454 and up 1.41% over the same window, suggesting the immediate selloff cut into earlier 24-hour gains rather than producing a full-day crypto collapse.Why good jobs news hit Bitcoin and goldThe market treated the payroll surprise as a reason the Federal Reserve could keep policy tighter. Reuters reported that the implied probability of a quarter-point September rate increase rose to 59% from 52% after the release.The two-year Treasury yield, which is especially sensitive to Fed expec...