US Labor Data Beat Sends Bitcoin Lower Amid Fed Rate Uncertainty
Ecosystem
English | News | Markets | Magazine | Research | Commissioned | About
DOGE
$0.08496 (↑ 4.29%)
TRX
$0.3314 (↑ 0.06%)
LINK
$11.69 (↑ 1.88%)
ZEC
$1,027.39 (↑ 7.50%)
ADA
$0.2132 (↑ 4.74%)
XRP
$1.40 (↑ 4.58%)
ETH
$2,455.22 (↑ 2.12%)
BTC
$79,813.33 (↑ 2.17%)
XMR
$538.76 (↑ 2.30%)
BNB
$719.22 (↑ 0.79%)
XLM
$0.1796 (↑ 3.67%)
SOL
$101.84 (↑ 3.23%)
HYPE
$84.21 (↑ 1.54%)
Written by Charles Bennett, staff editor Reviewed by Sam Bourgi, staff writer
Surprise Nonfarm Payrolls Print Sends Bitcoin Back Below 80K
Markets | Published: Sep 4, 2026
The US economy added far more jobs than expected in August, pressuring Bitcoin lower as traders repriced the odds of a Federal Reserve rate cut this month.
Key Points:
- The US economy added 162,000 nonfarm payroll jobs in August, nearly triple economists’ consensus estimate of 56,000.
- Bitcoin sold off from $81,300 to local lows of $78,600 following the data, before recovering to $79,500.
- A rival Bitcoin fork using the Blake2b algorithm saw its first trading activity, with coins changing hands at $350 on exchange Neoxa.
Labor Market Beats Expectations Threefold:
According to data released on Friday, the US economy added 162,000 nonfarm payroll jobs in August, significantly outperforming economists’ consensus expectations of roughly 56,000 jobs. In response, Bitcoin experienced a sharp decline from $81,300 to $78,600 before recovering slightly to $79,500.
Recent economic data carries added weight with divided rate outlooks ahead of the next Federal Open Market Committee (FOMC) meeting on Sept. 15-16. The lack of forward guidance from Chair Kevin Warsh and potential dissenters in the committee have contributed to this uncertainty.
Implied Probabilities for the Sep. 16 FOMC Rate Decision:
Polymarket Implied Probabilities swung to a 50/50 split between a rate pause and a 25 basis-point interest rate hike after strong labor market data.
Trump Levels New Rate-Cut Demands:
US President Donald Trump responded to the strong labor market data with new rate-cut demands, stating on Truth Social: "The Fed Board, with its great new leader, must get smart - BE PATRIOTS for a change... High interest rates put the U.S.A. at a very unfair disadvantage."
Blake2b Version of Bitcoin Attracts First Liquidity:
When the BIP-110 soft fork activated on Aug. 7, it briefly split the Bitcoin network into two chains. Miners' refusal to follow the user-activated soft fork (UASF) raised concerns about centralized mining influence. In response, a subset of BIP-110 supporters implemented a new proof-of-work algorithm, Blake2b, allowing for a more decentralized set of miners using DATUM gateway technology.