Bitcoin Holds Above $79,000 as Strong Jobs Data Lifts Rate Hike Odds

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U.S. August payroll figures came in at roughly three times the expected forecast, signaling a resilient labor market. The stronger-than-anticipated jobs data pushed the probability of a September interest rate hike to approximately 58%. Equity markets responded negatively to the news, selling off on concerns over tighter monetary policy. Cryptocurrency markets, however, showed resilience, with Bitcoin holding steady above $79,000. Zcash also posted notable gains, surging around 45% over the past week.

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