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      Bitcoin Remains Steady at $77,000 Amid Weak Job Growth Data

      Bitcoin maintained a price above $77,000 during the Asian and European trading sessions on Wednesday, despite a disappointing private hiring report. The cryptocurrency was last traded at $77,038, reflecting a 1.0% decline over the past 24 hours and a 1.7% drop over the week, according to CoinGecko. Other cryptocurrencies also experienced declines, with Ether at $2,392.94 and XRP falling to $1.33.

      The ADP reported that private employers added only 38,000 jobs in August, a decrease from 44,000 in July. This slowdown in hiring did not alter expectations for a potential interest rate increase by the Federal Reserve, with Polymarket pricing a quarter-point hike at 59%. The 10-year Treasury yield reached its highest level since January 2025, indicating a continued focus on monetary policy and its impact on the markets.

      In the broader market, equities fell while gold prices rose. The S&P 500, Nasdaq 100, and Dow Jones all reported losses, while spot gold increased by 0.84%. The total cryptocurrency market value decreased to $2.67 trillion, with Bitcoin dominance at 57.9%.

      Market analysts noted a shift in sentiment towards Bitcoin, with some indicating a potential bullish trend. However, caution remains as traders monitor upcoming economic data, including the August Consumer Price Index and non-farm payrolls, which could influence future market movements.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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