Bitcoin drops below $80K as strong US jobs report dims rate-cut hopes

This move underscores how tightly bitcoin's near-term trajectory is tethered to macro rate expectations rather than its own fundamentals. A robust jobs number effectively narrows the window for Fed easing, which historically supports speculative assets and could now keep risk appetite muted across crypto. The key dynamic to watch is whether BTC's correlation with equities persists if subsequent data continues to challenge dovish bets, or if it begins to decouple as a distinct asset class.