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Bitcoin held steady near USD 79,835.40 in a relatively narrow trading band.
Total crypto market capitalization stayed close to USD 2.7 trillion for another session.
Zcash again outperformed the broader market, rising past USD 1,200.
Bitcoin has spent the past two sessions digesting a stronger-than-expected US jobs report. August payrolls more than doubled forecasts, pushing traders to reprice Fed rate hike odds higher. The move trimmed part of the rally that had briefly lifted Bitcoin above USD 82,000.
Ethereum and most large-cap altcoins posted modest gains alongside Bitcoin today. Zcash remained the standout, extending a rally built on fresh ETF demand. Markets are now positioning ahead of next week's inflation data and the Fed's September meeting.
Bitcoin traded at USD 79,835.40, up 0.4% over the past 24 hours, according to CoinGecko data. Its market capitalization stood near USD 1.6 trillion. Trading volume over 24 hours reached USD 21.62 billion. The coin has gained 2.5% over the past seven days.
Below is today's Daily Quote roundup from leading crypto market analysts on Bitcoin's near-term structure.
Bitcoin trades below USD 80,000 after strong jobs data lifted September hike odds toward 58-60%, said Prateek Gupta, Head of Business at Mudrex. Spot Bitcoin ETFs still drew over USD 986 million in weekly inflows. Bitcoin also reclaimed its 50-month moving average for the first time since the last bear market. He placed resistance at USD 81,800 and support at USD 78,000 ahead of the Fed's decision.
BTC is trading in a tight range, with momentum staying subdued, said the CoinSwitch Markets Desk. Traders are assessing whether the recovery can extend toward USD 80,000-83,000. Sentiment remains cautiously constructive, though low conviction is keeping aggressive positioning on the sidelines. Holding key support zones will decide whether the rebound develops into a stronger trend.
Bitcoin is holding firm despite a stronger-than-expected jobs report, said Vikram Subburaj, CEO of Giottus.com. US payrolls rose by 162,000 in August, lifting hike odds near 57-59%. Spot Bitcoin ETFs still added roughly USD 770 million between September 1 and 4. He flagged resistance near USD 81,200-82,300 and support around USD 78,400-78,800.
Also Read: Bitcoin Rally Under Pressure: How Rising Yields, Fed Rate Fears Could Shape BTC’s Next Move
Bitcoin sits at an inflection point, with USD 77,500 as the key floor, said Nischal Shetty, Founder of WazirX. A decisive break above USD 82,300 with strong volume could open the path toward USD 84,000-85,000. Rising bond yields, oil above USD 90, and Middle East tensions are all reshaping the rate outlook. A sustained move below USD 77,500 could trigger a deeper pullback.
Source: CoinGecko, prices as of today's session.
Zcash led the top ten once more, adding 11.1% on continued ETF-driven demand. BNB followed with a 2.3% gain, while XRP and TRON posted smaller advances. Stablecoins, Tether and USDC stayed flat, as expected of dollar-pegged assets. No coin among today's top ten posted an outright decline, though Bitcoin and Hyperliquid lagged the broader move.
US employers added 162,000 jobs in August, more than double what economists had forecast. September rate hike odds on CME FedWatch jumped from 52% toward nearly 60% within hours of the release.
Bitcoin fell from an intraday high above USD 82,000 as traders repriced the outlook. The reaction highlighted how closely crypto now tracks shifts in US monetary policy expectations heading into September.
Zcash touched USD 1,200 this week, a level not seen in nearly a decade. Grayscale's ZCSH spot ETF and a wave of short liquidations have driven the sustained move higher.
The rally has spilled into other privacy-focused tokens, including Dash and Monero. Analysts note that institutional access through a regulated ETF has reshaped demand for the entire privacy coin category.
US spot Bitcoin ETFs pulled in USD 730.87 million in a single session this week. BlackRock's IBIT led the move, adding USD 453.96 million in fresh institutional capital.
Net assets across Bitcoin ETFs climbed back above USD 103 billion following the inflows. Steady institutional buying continues to offset some of the pressure from higher rate hike expectations.
Roughly USD 414 million in crypto derivatives positions were liquidated over the past 24 hours. Long positions bore the brunt, losing nearly twice as much value as short positions.
Traders described the flush as a healthy reset after positioning grew stretched near resistance. Elevated open interest suggests further volatility remains possible as the market digests the recent moves.
Brent crude climbed above USD 90 a barrel this week amid escalating Middle East tensions. Higher energy costs risk keeping inflation elevated just as the Fed weighs its September decision.
Analysts said the combination of oil, yields, and jobs data has complicated the broader risk-asset outlook. Crypto traders are now watching geopolitical headlines alongside traditional macroeconomic indicators for direction.
US inflation data lands on September 10 and 11, just days before the Fed convenes. Markets remain split between a rate hold and a quarter-point hike this month.
The outcome is likely to set the tone for crypto through the remainder of the third quarter. Desks expect volatility to build steadily as both data points approach next week.
Also Read: US Crypto Regulation, Bitcoin, Stablecoins: What India Needs to Watch
Today's session reflects a balance between resilient ETF demand and a hawkish jobs print. Bitcoin faces resistance between USD 81,200 and USD 84,000 heading into next week's session.
A decisive close above USD 82,300, supported by steady ETF inflows, would strengthen the recovery case. Investors should track the CPI releases on September 10 and 11 closely.
The Fed's September 15-16 meeting remains the next major catalyst for broader market direction. Elevated leverage and Zcash's stretched momentum suggest pullbacks remain possible even within an uptrend.
Desks continue to recommend disciplined position sizing rather than chasing strength after sharp moves. Staggered entries and controlled leverage remain the preferred approach until the macro picture settles further.
1.What is the Bitcoin price today?
Bitcoin trades near USD 79,835.40, up 0.4% over the past 24 hours, according to CoinGecko data. Resistance sits near USD 81,800, while support holds close to USD 78,000, based on levels flagged across trading desks today.
2.Why did Bitcoin pull back from its recent high?
Bitcoin retreated after August nonfarm payrolls beat forecasts by a wide margin. September rate hike odds on CME FedWatch jumped toward 60% within hours, prompting traders to trim risk and reassess the near-term rate outlook.
3.What is the biggest crypto news today?
Today's headlines include rising Fed rate hike odds, a USD 414 million liquidation spike, Zcash's rally past USD 1,200, and continued resilience in Bitcoin ETF inflows despite broader market volatility.
4.Which coins are performing best today?
Zcash leads the top ten with an 11.1% daily gain, followed by BNB at 2.3%. No coin among the top ten posted a decline over the past 24 hours in today's session.
5.What should investors watch this week?
Investors should track the US CPI reports on September 10 and 11, ongoing Bitcoin ETF flow data, and the Federal Reserve's September 16 rate decision, since each could move crypto prices sharply.
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