Bitcoin Slides as Blowout Jobs Report Revives Fed Hike Odds

In brief

• The U.S. economy added 162,000 jobs in August, nearly triple the 53,000 economists expected, while unemployment held at 4.1%, according to the Bureau of Labor Statistics.
• Bitcoin fell back below $80,000 after touching a four-month high of $82,240 earlier Friday, as fed funds futures pushed September rate-hike odds to 58% from 49.4% a day earlier.
• The Dow fell 226 points and gold sank to $4,419 an ounce, while President Trump demanded lower rates on Truth Social hours after the report landed.

The U.S. economy added 162,000 jobs in August, nearly triple the 53,000 gain economists polled by Dow Jones had forecast, according to the BLS report released Friday.

The unemployment rate held steady at 4.1%, matching expectations, and both June and July payrolls were revised higher.

Traders read the beat as fuel for a Federal Reserve interest rate hike. The Dow Jones Industrial Average fell 226 points, or 0.4%, while the S&P 500 slid 0.2% and the Nasdaq Composite ticked up 0.1%.

Fed funds futures traders are now pricing a 58% chance of a hike at the central bank's Sept. 15-16 meeting, up from 49.4% the day before, according to the CME FedWatch tool. Treasury yields rose across the curve, with the two-year note touching its highest level since January 2025.