\n<\/p>\n
The US economy added almost three times as many jobs as expected in August, triggering an immediate sell-off for risk-on assets like bitcoin as investors reassess the chances of another Federal Reserve rate hike.<\/p>\n
The cryptocurrency’s price had risen to over $81,000 before the news went live, but plunged immediately by $2,000 to $79,200.<\/p>\n More specifically, the US economy added<\/a> 162,000 jobs in August, according to data shared by the Bureau of Labor Statistics. The general expectations were for roughly 55,000-58,000 new jobs, which means that the actual numbers were significantly higher. The unemployment rate remained unchanged at 4.1%.<\/p>\n The July reading was also revised sharply higher, from a previously reported loss of 23,000 jobs to a gain of 21,000. Average hourly earnings increased 0.3% monthly and 3.1% annually.<\/p>\n A strong labor market gives the Federal Reserve more room to keep monetary policy tight, which, given Kevin Warsh’s hawkish speech<\/a> from last week, spells trouble for risk-on assets like bitcoin.<\/p>\n The blowout jobs number weakens one argument for keeping rates unchanged: that the US labor market needs protection from tighter monetary policy. Higher interest-rate expectations typically push Treasury yields and the greenback north while reducing the relative appeal of risk assets.<\/p>\n Although the jobs report does not guarantee a September rate hike, as inflation remains the biggest concern to the US central bank, it certainly gives investors a lot of weigh in ahead of the CPI data next week.<\/p>\n The post Bitcoin Price Plunges After Blowout US Jobs Report: Here\u2019s Why<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The US economy added almost three times as many jobs as expected in August, triggering an immediate sell-off…\n","protected":false},"author":2,"featured_media":46831,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-46830","post","type-post","status-publish","format-standard","has-post-thumbnail","category-crypto","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/46830","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46830"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/46830\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/46831"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![<\/a>BTCUSD September 4. Source: TradingView<\/figcaption><\/figure>\nMore specifically, the US economy added<\/a> 162,000 jobs in August, according to data shared by the Bureau of Labor Statistics. The general expectations were for roughly 55,000-58,000 new jobs, which means that the actual numbers were significantly higher. The unemployment rate remained unchanged at 4.1%.<\/p>\nThe July reading was also revised sharply higher, from a previously reported loss of 23,000 jobs to a gain of 21,000. Average hourly earnings increased 0.3% monthly and 3.1% annually.<\/p>\nA strong labor market gives the Federal Reserve more room to keep monetary policy tight, which, given Kevin Warsh’s hawkish speech<\/a> from last week, spells trouble for risk-on assets like bitcoin.<\/p>\nThe blowout jobs number weakens one argument for keeping rates unchanged: that the US labor market needs protection from tighter monetary policy. Higher interest-rate expectations typically push Treasury yields and the greenback north while reducing the relative appeal of risk assets.<\/p>\nAlthough the jobs report does not guarantee a September rate hike, as inflation remains the biggest concern to the US central bank, it certainly gives investors a lot of weigh in ahead of the CPI data next week.<\/p>\nThe post Bitcoin Price Plunges After Blowout US Jobs Report: Here\u2019s Why<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\nSource link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The US economy added almost three times as many jobs as expected in August, triggering an immediate sell-off…\n","protected":false},"author":2,"featured_media":46831,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-46830","post","type-post","status-publish","format-standard","has-post-thumbnail","category-crypto","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/46830","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46830"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/46830\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/46831"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/09\/BTCUSD-September-4.png\"){kind=link}