Bitcoin Reclaims $81,000 as Rate-Hike Odds Fade After Jobs-Report Whipsaw, Zcash Jumps 15%
Bitcoin traded back above Bitcoin back above $81,000 as hike odds fade, Zcash leads with 15% jump.
after a volatile session tied to shifting Federal Reserve rate-hike expectations, according to CoinDesk.
The move followed a sharp drop triggered by the August jobs report. The Bureau of Labor Statistics reported 162,000 new jobs, roughly five times the prior year’s average pace, according to The Defiant. Bitcoin fell Bitcoin fell $1,430 in the five minutes after the Bureau of Labor Statistics reported 162,000 August jobs, five times the average of the prior year.
in the five minutes after the release, The Defiant reported, while the Dow fell 226 points, according to Decrypt.
The data initially revived hike-odds bets: Decrypt reported that September rate-hike odds jumped to The Dow dropped 226 points and Bitcoin erased some of its gains after August payrolls tripled estimates, pushing September rate-hike odds to 58%.
, and The Defiant said Polymarket traders pushed the odds of a quarter-point September increase from 39.5 cents to the majority outcome within 15 minutes of the report.
Those hike odds later faded, according to CoinDesk, helping Bitcoin recover above the $81,000 level. CoinDesk reported a broad crypto rally alongside the recovery, led by privacy coins, with Zcash climbing Bitcoin back above $81,000 as hike odds fade, Zcash leads with 15% jump.
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Sources: CoinDesk, Decrypt, The Defiant
This article is for information only and is not financial advice.
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