Bitcoin Drops Below $80,000 Amid Renewed Fed Rate Hike Concerns

Bitcoin fell below the $80,000 level following a stronger-than-expected US payroll report, which added 162,000 jobs. The data triggered a rise in Treasury yields and the US dollar, fueling speculation about potential Federal Reserve interest rate hikes. While the initial market reaction led to a selloff, the downward momentum did not remain consistent across all sectors.