Bitcoin Holds Near $77,000 as Weak ADP Jobs Report Fuels Rate‑Hike Expectations

Bitcoin remained above the $77,000 level during the Asian and European sessions and the first 90 minutes of U.S. trading on Wednesday. The price held steady after the ADP private‑sector employment report showed a slowdown, yet traders kept the probability of a September Federal Reserve rate increase high.

Macro backdrop

ADP reported 38,000 private jobs added in August, down from 44,000 in July. Base pay grew 3.2% year‑over‑year and gross pay 4.7% year‑over‑year. The weaker hiring data did not shift market expectations toward a rate cut; instead, the odds of a quarter‑point Fed hike at the September 15‑16 meeting rose to 59% on Polymarket, up from 57% the day before.

Bitcoin and major crypto assets

Bitcoin last traded at $77,038, down 1.0% over 24 hours and 1.7% over the past week, after ranging between $76,298 and $77,930 (CoinGecko). Ether fell to $2,392.94, a 1.89% decline, while XRP dropped 2.59% to $1.33. Solana slipped 2.34% to $99.02 but kept a 2.5% weekly gain, and BNB was flat at $686.17. The total crypto market cap stood at $2.67 trillion, down 1.68% in the last day, with Bitcoin dominance at 57.9%.

Broader market movements

U.S. equities fell: the S&P 500 was down 0.71%, the Nasdaq 100 dropped 1.29%, and the Dow Jones Industrial Average slipped 0.79%. Gold rose 0.84% to $4,365.11 per ounce, while Brent crude fell 0.55% to $94.13 a barrel. The 10‑year Treasury yield closed at 4.79%, its highest level since January 2025, and the 30‑year yield rose to 5.27%.

Altcoin breadth and sentiment

Among the 125 largest non‑stablecoin tokens, 84 fell, 40 rose and one was unchanged, reversing the previous day's breadth. The Crypto Fear & Greed Index read 63, indicating a “greed” stance but lower than the prior day’s 69.

DeFi and stablecoin metrics

DeFi total value locked was $85.31 billion. Stablecoin supply reached $303.69 billion, up 0.12% over the week.

ETF flows

U.S. spot Bitcoin ETFs recorded $8.4 million of inflows on Tuesday, all attributed to Bitwise’s BITB fund. Spot Ether ETFs saw $8.6 million of inflows, led by BlackRock’s ETHB and Fidelity’s FETH.

Notable token moves

• Arbitrum (ARB) rose 6.59% to $0.1169, up 27.4% weekly.
• Pons (PONS) fell 12.6% but remained up 235.5% weekly.
• Monero (XMR) gained 2.70% to $517.16, the strongest weekly performance among the top 20 privacy coins.