Bitcoin drops below $80,000! Increased expectations for the Federal Reserve to raise interest rates and rising oil prices put pressure on

On Monday, Bitcoin fell below the $80,000 mark. Stronger-than-expected U.S. employment data reignited market bets on the Federal Reserve raising interest rates this month, while tensions between the U.S. and Iran pushed oil prices higher, further weighing on risk asset sentiment.
As of 1:01 a.m. Eastern Time (13:01 p.m. Beijing time), Bitcoin was trading at $79,724.8, down about 0.3% on the day.
Bitcoin briefly topped $82,000 last week, hitting a more than three-month high of $82,178.6 on Thursday, but then retreated following the release of the U.S. jobs report on Friday.