U.S. August nonfarm payrolls beat expectations, cooling rate cut expectations. Bitcoin fell below $80,000 and gold came under pressure. Markets focus on the Fed's September meeting and regulatory developments.
U.S. August nonfarm payrolls far exceeded expectations, adding 162,000 jobs. Market expectations of a Fed rate hike in September rose, the dollar index strengthened, and global risk assets came under pressure. Bitcoin fell below the psychological level of $80,000, and gold also declined due to rate hike expectations. Meanwhile, regulatory developments were frequent: the American Enforcement Association shifted to neutral on the CLARITY Act, the UK retail platform opened crypto ETNs, and South Korea launched a roadmap for tokenized securities. The market is in an adjustment period after the macro data shock, with investors focusing on subsequent inflation data and Fed officials' speeches.
Bitcoin fell 1.98% to $79,660.64 due to the jobs data, breaking below the psychological $80,000 level. Despite Bitcoin spot ETFs recording net inflows of $731 million on Thursday, the highest since January, analysts point to weak new demand, with $83,000 as key resistance above. Ethereum fell 2.06%, Solana fell 1.89%, and XRP fell 3.64%, with broad market declines. On the regulatory front, the American Enforcement Association shifted to neutral on the CLARITY Act, possibly clearing the way for its passage; the UK retail platform opened crypto ETNs, potentially bringing incremental capital. South Korea launched a roadmap for tokenized securities, showing Asian regulatory progress.
Gold prices came under pressure due to strong jobs data. Gold tokens XAUT and PAXG fell 1.02% and 1.13% to $4,426.73 and $4,432.66 respectively. Market expectations of a Fed rate hike in September rose, the dollar strengthened, reducing gold's appeal. Additionally, diesel prices hit record highs, intensifying inflation concerns, which may force the Fed to maintain a hawkish stance. Geopolitically, tensions in the Strait of Hormuz again raised inflation concerns, but gold's safe-haven demand may be suppressed by rising real interest rates.
This briefing is generated automatically from public sources for reference only and is not investment advice. Markets carry risk; make your own decisions.
