Bitcoin Price Action
Bitcoin was quoted at $79,767.6 at 11:47 ET (15:47 GMT) on Saturday, remaining under the $80,000 psychological level after retreating from a three‑month peak of $82,178.6 recorded on Thursday. The price pull‑back re‑established the $82,000‑$83,000 range as a key resistance zone following a brief breakout above $82,000.
U.S. Jobs Data and Fed Outlook
The U.S. Labor Department reported that non‑farm payrolls increased by 162,000 in August, far surpassing the Reuters‑surveyed expectation of 56,000 jobs. The unemployment rate held steady at 4.1%, while annual wage growth eased slightly to 3.1%. These stronger‑than‑expected figures lifted market expectations for a Federal Reserve rate hike at its September 15‑16 meeting, with rate‑future pricing moving from roughly 52% before the report to a peak of about 65% and then settling around 57%‑59%. Treasury yields and the U.S. dollar rose in tandem, exerting pressure on risk‑sensitive assets such as Bitcoin. Earlier, Fed Governor Christopher Waller had signaled that he could support a pause in rate hikes if August inflation data continued to improve, a comment that had previously helped push Bitcoin to its highest intraday level since May.
Bitcoin ETF Inflows
Institutional demand for spot Bitcoin exchange‑traded funds stayed robust. On September 4, U.S. spot Bitcoin ETFs recorded net inflows of $174.6 million, extending a three‑day inflow streak and bringing cumulative inflows for the period to approximately $1.01 billion. The day's inflow was markedly lower than the $730.87 million recorded on September 3, which had been the strongest daily inflow in about eight months. BlackRock’s iShares Bitcoin Trust (IBIT) contributed roughly $117.4 million, while Fidelity’s Fidelity Bitcoin Trust (FBTC) added about $57.2 million.
Altcoin Performance
In the broader cryptocurrency market, major altcoins posted gains. Ether (ETH) rose 0.3% to $2,459.78, XRP advanced 1.01% to $1.4131, Solana increased 1.4% to $102.84, and BNB jumped 7% to $766.50, making it one of the strongest performers. Cardano gained 1.9% to $0.2171, Dogecoin rose 3.9% (price not disclosed), the meme token TRUMP climbed 5.3%, and Shiba Inu advanced 4.5%.
Upcoming Economic Data
The next macroeconomic tests for Bitcoin will be U.S. producer‑price index (PPI) data due on September 10 and consumer‑price index (CPI) data due on September 11, both preceding the Federal Reserve’s September policy meeting. These releases will further shape expectations for monetary policy and, consequently, the risk appetite for Bitcoin and other crypto assets.