Bitcoin slips below $79,000 as rate-hike bets, oil prices weigh on sentiment; key levels to watch

For the broader market, the important signal will be how Bitcoin behaves after a pullback rather than how quickly it reaches the next target.

• Bitcoin fell to $78,920 on Sept 8.
• US interest rate expectations and jobs report impacted price.
• Institutional investment in Bitcoin ETFs remains strong.

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Bitcoin fell 0.95 percent to $78,920 in the early trade on September 8 (9:11 IST) amid shifting US interest-rate expectations and geopolitical tensions.

BTC briefly moved above $80K as Treasury yields eased, helping improve sentiment across risk assets. However, a stronger-than-expected US jobs report pushed bond yields higher again, sending BTC back below $80K.

Nischal Shetty, Founder of WazirX, noted that US equities are starting the session on a softer note, but this is not yet a full risk-off environment. The bigger signal for crypto is oil, which has moved above $92 and could keep inflation and Fed expectations elevated.

"For Bitcoin, the next move may therefore depend less on today's modest equity weakness and more on whether rising energy prices translate into tighter liquidity expectations. If yields remain contained, crypto can absorb the equity pullback; if yields rise sharply, pressure on higher-beta crypto assets could increase," Shetty said.