The crypto market is up today, August 8, after a decline in the US nonfarm payrolls data for July 2026 reduced the odds of the Federal Reserve hiking interest rates in September. Bitcoin (BTC) price moved above $65,000 while Strategy (NASDAQ: MSTR) stock closed trading at $100. Pi Network (PI) is also the top gainer among altcoins after the price surged by 4.6% to $0.091 at the time of writing.

Why is the Crypto Market Up Today?

Prediction markets show that the odds of the Federal Reserve hiking interest rates during the September 2026 FOMC meeting have dropped to 37%. 63% of wagers believe that the Fed will leave the interest rates unchanged at between 3.50% and 3.75%.

An earlier report by CoinGape revealed…