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Bitcoin rebounds above $77,500 as XRP leads
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Bitcoin rebounds above $77,500 as XRP leads

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  • Bitcoin (CRYPTO:BTC) climbed about 1.5% above US$77,600 after buyers defended the US$76,350 cost basis.
  • XRP (CRYPTO:XRP) led major tokens with a near 3% gain, while Bitcoin’s rebound lacked strong spot-market support.
  • Friday’s US jobs report could shift expectations for the Federal Reserve’s September meeting and Bitcoin’s next move.

Bitcoin (CRYPTO:BTC) rose about 1.5% to above US$77,600 after buyers defended the roughly US$76,350 average cost basis for active investors.

XRP (CRYPTO:XRP) led major tokens with a near 3% gain to US$1.36, while BNB (CRYPTO:BNB) gained almost 2% and Solana (CRYPTO:SOL) rose about 2% to US$100.

The rebound came despite weak spot flows, with Bitcoin exchange-traded funds losing about US$236 million and roughly 3,700 BTC moving onto exchanges during the past week.

Bitfinex analysts said Bitcoin came within US$50 of the US$76,350 level before buyers stepped in, but warned September has historically been a weaker month for the cryptocurrency.

The Federal Reserve’s rate outlook also remains a key market factor, with CME FedWatch showing a 62% chance of a 0.25 percentage-point hike on September 16.

Ethereum (CRYPTO:ETH) traded below US$2,400, while Tron (CRYPTO:TRX) gained about 1% and Hyperliquid (CRYPTO:HYPE) was flat above US$82, with most major tokens still lower over seven days.

Friday’s US nonfarm payrolls report is expected to influence rate expectations, while options positioning shows downside protection around US$68,000 to US$75,000 and potential upside towards US$80,000.

At the time of reporting, Bitcoin price was $77,697.34.

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