Bitcoin drops below $80,000 before trimming losses
Updated
Updated · Barron's · May 8
Bitcoin drops below $80,000 before trimming losses
14 articles · Updated · Barron's · May 8
It later traded at $80,209, down 0.8% in 24 hours, as investors awaited April US nonfarm payrolls expected to show 65,000 new jobs.
Ethereum fell 1.4%, Solana 0.4% and XRP 1.3%, while cryptocurrencies lagged a broader stock rally driven by strong artificial-intelligence earnings.
Earlier losses were linked to US-Iran tensions and Strait of Hormuz strikes. Traders see only a 9% chance of a 2026 Fed rate cut, with 74% expecting none.
With crypto crashing and a vital trade route closed, what does this U.S.-Iran clash signal for the global economy?
As missiles fly despite rumored peace talks, what is the true endgame in the high-stakes Hormuz standoff?
With shipping giants halting routes and oil surging, are global consumers about to pay the price for the Hormuz conflict?