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Bitcoin moved back above $77,500 on Thursday as crypto markets recovered from their latest selloff and traders reduced expectations for a Federal Reserve rate increase this month.
BTC traded around $77,600 in Asian hours, up roughly 1.5% over 24 hours after touching $76,400. XRP led large-cap tokens with a gain of almost 3%, while BNB and Solana rose about 2%.
XRP Reaches $1.36 as Bitcoin Rebounds From $76,400
XRP traded near $1.36 during the rebound. BNB moved toward $692 and Solana held above $100, while Tron gained about 1%. Ether traded near $2,400.
The gains followed a risk-off session driven by renewed US-Iran fighting, higher oil prices and rising Treasury yields. Bitcoin had fallen toward $76,400 before recovering above $77,500.
Weekly performance remained weaker, with Bitcoin down about 1% over seven days and XRP, Tron and Ether also trading below their levels from a week earlier.
September Fed Hike Odds Fall to 62.4% After Weak ADP Data
Interest-rate markets priced a 62.4% probability that the Federal Reserve will raise its target range by 25 basis points to 3.75% to 4% on September 16.
That was down from 67.9% a day earlier, although still above the 36.7% probability recorded one week ago.
The shift followed weaker US employment data. Private employers added 38,000 jobs in August, below the 48,000 expected and down from a revised 46,000 in July.
Friday Payrolls Forecast at 56,000 After July Decline
The Bitcoin rebound came as other spot-market indicators remained mixed. US spot Bitcoin ETFs recorded roughly $236 million in net outflows over the past week, while about 3,700 BTC moved onto exchanges.
Attention now turns to Friday’s US employment report. Economists expect nonfarm payrolls to increase by about 56,000 after a 23,000 decline in July, with unemployment forecast to remain at 4.1%.
Bitcoin was holding near $77,600 ahead of the report, while September Fed hike expectations remained at roughly 62%.
