Crypto Market Update: Bitcoin Price Dips After US Jobs Report

Bitcoin price update

Bitcoin (BTC) was priced at US$81,049.94, trading 1.3 percent higher over the past 24 hours.

Earlier in the day, the popular cryptocurrency plunged by US$2,000, falling to US$79,200 immediately after the US Bureau of Labor Statistics released a blowout August jobs report. Bitcoin had climbed above the US$81,000 level before the economic data triggered a sudden selloff across risk assets. The US economy added 162,000 jobs in August, nearly tripling Wall Street expectations of 55,000 to 58,000 new positions.

The bureau also revised July jobs data sharply higher, converting a previously reported loss of 23,000 jobs into a gain of 21,000. The national unemployment rate remained unchanged at 4.1 percent, while average hourly earnings increased 0.3 percent month-on-month and 3.1 percent annually.

A resilient labor market provides the US Federal Reserve additional flexibility to maintain tight monetary policy. The strong employment data follows hawkish remarks from Fed Chair Kevin Warsh last week. Traders are now turning their focus to next week's consumer price index report to gauge the central bank's next policy move.

Bitcoin price chart

Ether and altcoin price update

• Ethereum (ETH) was priced at US$2,521.17, trading 1.3 percent higher over the last 24 hours.

• XRP (XRP) was priced at US$1.45, up by 1.3 percent over the past 24 hours.

• Solana (SOL) was trading at US$104.06, trading flat over the past 24 hours.

Today's crypto news to know

Read on for a round-up of the biggest crypto market news:

• Coinbase files SEC application to offer equity perpetual futures
• FinCEN ties US$12.7 billion to crypto investment scams

Coinbase files SEC application to offer equity perpetual futures

Coinbase Global (NASDAQ:COIN) filed registration documents with the US Securities and Exchange Commission (SEC) to offer equity perpetuals, according to a social media post from Chief Policy Officer Faryar Shirzad.

"This week, Coinbase took the first step to offer them in the U.S on our derivatives exchange by filing notice registration documents with the SEC," Shirzad wrote on Thursday (September 3).

Equity perpetuals operate as derivative contracts tracking underlying assets that never expire, allowing traders to hold positions indefinitely without rolling over contracts. The proposed product will require approval from the Commodity Futures Trading Commission (CFTC) before launching to American traders.

"Equity perps have proven demand internationally, and we're excited at the prospect of a regulated pathway for U.S. investors," Shirzad further noted. Coinbase secured CFTC approval to offer perpetual crypto futures earlier this year alongside prediction platform Kalshi.

FinCEN ties US$12.7 billion to crypto investment scams

The US Department of the Treasury's Financial Crimes Enforcement Network tied roughly US$12.7 billion in suspicious activity to crypto investment scams operating out of Southeast Asian compounds.

In a report published this month, FinCEN analyzed 33,904 suspicious activity reports filed by approximately 1,300 financial institutions between September 2023 and December 2025.

Crypto money services businesses submitted 55 percent of all reports flagging US$5.5 billion, while traditional banks submitted 41 percent flagging US$6.4 billion. Monthly reported sums rose by an average of 18 percent over the analyzed timeframe as scam operations expanded. Criminals accepted 22 different digital assets from victims before systematically swapping proceeds into USDT to process through offshore exchanges and DeFi protocols.

Furthermore, elder exploitation appeared in 25 percent of reports, matching the general elderly population share and contradicting assumptions that scammers disproportionately target older adults.