Bitcoin falls to $74,762 as Fed rate hike bets rise after strong US jobs data

Bitcoin slid to new multi-week lows on Friday, reaching $74,762 after the Wall Street opening, as its price trajectory sharply diverged from that of major US equities. Despite the drop in Bitcoin, US tech stocks staged a recovery after Thursday’s sell-off. The Nasdaq Composite Index climbed 1.8% within the first hour of trading, and the S&P 500 added 0.6%. Leading tech companies outperformed the wider market, with both SanDisk and Micron Technologies jumping 6.3%. By contrast, the total cryptocurrency market capitalization decreased 0.5% on the day. Data from TradingView showed BTC/USD sinking to its lowest point since August 21, losing the $75,000 level that had provided support since mid-summer.

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