Bitcoin Consolidates at $77K Amid US Interest Rate Uncertainty

Bitcoin (BTC) traded around $77,863 on Thursday as investors weighed improving global risk sentiment against persistent uncertainty surrounding US interest rates.

The cryptocurrency was up 1.08% in the past 24 hours, with Ethereum (ETH) gaining 0.14% to trade at $2,404. Major altcoins like BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin, and Cardano also saw gains of up to 6.50%, according to CoinMarketCap.

Vikram Subburaj, CEO of Giottus, noted that the market remains in consolidation, with Bitcoin's August rally stalling below substantial long-term-holder supply between $83,000 and $86,000. Attention now turns to Friday's US employment report, where economists expect around 56,000 new jobs and unemployment at 4.1%, he added.

Global crypto market capitalisation rose 0.59% to $2.63 trillion, while the CoinDCX Research Team pointed out that the crypto fear and greed index remains at 63, indicating a greedy market sentiment. Avinash Shekhar, Co-Founder & CEO of Pi42, advised investors to focus on confirmation rather than chasing sudden price moves, suggesting gradual accumulation at defined levels.