US Jobs Report Knocks Bitcoin Below $81,000

The outsized price reaction to a single macro data point underscores how tightly bitcoin is trading as a risk asset tethered to Fed expectations. The speed of the move—$1,430 in five minutes—suggests thin liquidity and algorithmic positioning rather than a fundamental shift in network or adoption metrics. The immediate repricing of rate-cut odds on Polymarket shows market participants are parsing jobs data primarily for its monetary policy implications, not its economic meaning. What matters next is whether bitcoin's correlation to macro headlines persists or if it decouples as the Fed’s path becomes clearer. The open question is whether this sensitivity is a temporary phase or a structural feature of current market conditions.