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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
09/04/2026

Hot Jobs Data Knocks Bitcoin Below $80K Despite ETF Inflows

What happened: The US economy added 162,000 jobs in August, far exceeding the consensus forecast of 55,000.

Hot Jobs Data Knocks Bitcoin Below $80K Despite ETF Inflows

What happened: The US economy added 162,000 jobs in August, far exceeding the consensus forecast of 55,000. The surprise "blowout" print pushed the unemployment rate to 4.1% and average hourly earnings up 0.3% month-over-month. Bitcoin, which had rallied on the Fed's dovishness, dropped 1.8% to $79,775 immediately after the data release, falling back below the $80,000 mark. Spot BTC ETF assets crossed $103 billion for the first time, with BlackRock's IBIT holding over half of net assets.

Why it matters: The sharp reversal illustrates the fragility of crypto rallies driven by macro signals. While ETF inflows reached record levels, the labor market's strength revived concerns about further Fed tightening, quickly erasing gains. CoinDesk notes that historically, NFP days have not been major movers for bitcoin, but this outsized print bucked the trend.

Source: Bloomingbit