Bitcoin near $77,700 as crypto traders await US jobs report
bitcoin is pretty much flat at $77,700 (down just 0.1%) as traders hold their breath for the US jobs report coming out Friday. This data could nudge the Federal Reserve's next big move.
Ethereum is also chilling near $2,400. Basically, the crypto market is in "wait and see" mode.
Avinash Shekhar urges cautious Bitcoin accumulation
Right now, 68% of all bitcoin is in profit, even with global uncertainty, showing some resilience in the market.
But demand for bitcoin ETFs has become less consistent following strong inflows in August, hinting that big investors are less active lately.
Experts like Avinash Shekhar suggest playing it safe: "At this stage, investors may benefit from focusing on confirmation rather than chasing sudden price moves."
"Gradual accumulation at defined levels, along with close attention to trading volumes and Bitcoin's ability to sustain higher levels, could offer a more measured approach."
With geopolitical tensions and possible Fed rate hikes ahead (markets see a 64% chance), any price breakout could set the next trend for crypto.