🔴 Bitcoin ETF (FBTC.TO) is trading 3% down today after jobs data lifted Fed rate-hike expectations

FBTC.TO is trading at CA$35.22, down 3.03%, as Bitcoin remains under pressure after August U.S. payrolls exceeded forecasts by a wide margin.

• The data lifted expectations for a September Federal Reserve rate hike, pushing yields higher and reducing demand for speculative assets such as Bitcoin.
• Higher oil prices above US$97 are reinforcing inflation concerns.
• Bitcoin’s rejection below US$80,000 and leveraged-long liquidations add technical selling pressure.