Bitcoin remained near $77,700 on Thursday as traders held back from making major moves ahead of Friday’s U.S. jobs report. The employment figures could influence expectations for the Federal Reserve’s next policy decision. Ethereum was also little changed, trading around $2,400.
The broader crypto market was stuck in a cautious phase as investors waited for fresh economic signals. Bitcoin’s limited movement and Ethereum’s stability showed that traders were largely avoiding strong bets before the employment data arrives.
The jobs report could either support the market’s current expectations for Fed policy or force investors to reconsider them. As a result, Friday’s data has emerged as a key event for crypto markets, with Bitcoin continuing to consolidate around $77,700.
Bitcoin Supply Remains Resilient
Bitcoin’s sideways trading comes as a large portion of its circulating supply remains profitable. About 68% of all Bitcoin is currently valued above its acquisition price, suggesting that a majority of holders are still sitting on unrealized gains despite uncertainty across global markets.
At the same time, demand for spot Bitcoin ETFs has lost some of its momentum following the strong inflows recorded in August. The more uneven flow pattern indicates that institutional buying may have slowed, even though Bitcoin has continued to defend the $77,700 area.
Avinash Shekhar, CEO of an Indian crypto exchange, has called for a measured approach to Bitcoin accumulation. He suggested that investors wait for confirmation rather than follow abrupt price moves, while gradually building positions at predetermined levels. He also recommended keeping an eye on trading volumes and whether Bitcoin can sustain its higher price range.
The current combination of profitable supply and softer ETF demand suggests that Bitcoin remains fundamentally resilient, but the market is no longer seeing the same consistent institutional buying pressure that characterized August.
Bitcoin Market Snapshot
Bitcoin was trading around $77,700 as of September 3, down roughly 0.1%, while Ethereum stood near $2,400. Around 68% of Bitcoin’s circulating supply remained in profit, while ETF demand had become less consistent compared with August. Market pricing also pointed to a 64% probability of a Fed rate hike.
The available market data does not establish a clear support or resistance zone, moving-average signal, or specific breakout level. Instead, the immediate focus remains on the U.S. employment report and what it could mean for the Federal Reserve’s policy trajectory.
The Bureau of Labor Statistics release could significantly alter expectations for the Fed’s next move. That uncertainty is keeping traders cautious and limiting Bitcoin’s price action near $77,700.
Geopolitical tensions provide another source of uncertainty, adding to concerns surrounding monetary policy. A decisive move following the jobs report could determine Bitcoin’s next direction, but until then, traders appear willing to remain on the sidelines.
