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Bitcoin (BTC) is back below $80,000 at the time of writing on Friday, after an earlier rejection near $81,500. The largest cryptocurrency by market capitalization aims for short-term support at $79,000, which could encourage dip buying. Gold (XAU/USD), meanwhile, is trading amid growing headwinds, with the price now testing support at $4,400. The metal surged to $4,511 on Thursday, aligning with positive market sentiment as the United States (US) Services PMI improved to 55.4 in August from 54.1 in July. US Nonfarm Payrolls rise in August US Nonfarm Payrolls (NFP) surged by 162K in August, according to the latest data from the Bureau of Labor Statistics (BLS). This robust gain not only marks a significant acceleration from July’s modest 21K increase, but also broadly beats consensus forecasts of 56K, signaling unexpected labor market resilience. Additional report metrics reveal the Unemployment Rate held steady at 4.1%, in line with expectations, while Labor Force Participation edged higher to 61.6%. Meanwhile, annual wage inflation, tracked by Average Hourly Earnings, eased to 3.1%, down slightly from 3.2%, reflecting a modest cooling in wage growth. Bitcoin and Gold shed gains after the NFP report, as investors price in a 60% probability that the Federal Reserve (Fed) will raise interest rates to the 3.75%-4.00% range from 49% a day earlier, according to the FedWatch tool FedWatch tool | Source: CME Group Technical analysis: Bitcoin slides amid broader bullish bias Bitcoin trades at $79,450 with a constructive bullish bias as price holds well above key Exponential Moving Averages (EMAs), providing a rising trend backdrop. The Relative Strength Index (RSI) hovers near 66 on the daily chart, suggesting firm but not extreme buying pressure, while the latest downtick in the Moving Average Convergence Divergence (MACD) histogram hints at some loss of upside momentum rather than a confirmed reversal.…