On September 4, iShares Bitcoin Trust declined 3.1% in regular trading, trading at $44.9863/share, with turnover of $610 million. The drop came as Bitcoin fell below the $80,000 level following a significantly stronger-than-expected U.S. August non-farm payrolls report.
The U.S. economy added 162,000 jobs in August, far exceeding the consensus estimate of approximately 55,000 and reversing the prior month's loss of 23,000. The unemployment rate held steady at 4.1%. The blockbuster employment data immediately triggered a repricing of Federal Reserve policy expectations, with traders sharply increasing bets on a September rate hike. The 10-year U.S. Treasury yield rose to 4.792%, while the 2-year yield climbed 7.18 basis points to 4.406%. Spot gold plunged over 2%, and Bitcoin breached the $80,000 support level as risk assets sold off broadly.
The strong payrolls data effectively reversed the prior narrative of labor market deterioration, reinforcing the case for tighter monetary policy. QCP Capital noted that the September hike probability, which had oscillated between 45% and 65% in recent days, is now expected to re-escalate, adding persistent pressure to crypto-linked assets.
The iShares Bitcoin Trust seeks to reflect generally the performance of the price of bitcoin.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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