Bitcoin nears $80,000 as US jobs data shifts Fed outlook
Business
Bitcoin is closing in on $80,000, trading at $79,486 as of Monday. The move comes after strong US job data shifted expectations for Federal Reserve interest rates.
Ethereum is steady at $2,495 with just a slight dip.
Spot Bitcoin ETFs pull $986m weekly
Spot Bitcoin ETFs are pulling in over $986 million a week. Riya Sehgal, Research Analyst at Delta Exchange, says this steady flow and strong institutional demand are keeping spirits high, even with rising bond yields.
The overall crypto market cap is at $2.7 trillion, but altcoins like Solana and Dogecoin slipped while Tron and Cardano ticked up.
Analysts see Bitcoin bouncing between support at $78,000 and resistance at $81,800 ahead of the Fed's big meeting next week.