Bitcoin Holds Firm Near $79,300 as Hike Odds Jump to Nearly 58%

Bitcoin has maintained its price above $79,300 as the odds of a Federal Reserve hike climb to nearly 58% following last week's strong payrolls data. The cryptocurrency is up about 2% on the week, but zcash has been the standout performer, surging 45% in just seven days and clearing $1,000 for the first time since 2016.

The two-year Treasury yield hit a 52-week high near 4.4%, causing some concern about rate repricing. However, U.S. spot Bitcoin ETFs have absorbed this by taking in around $770 million across the first four sessions of September.

Monero has fallen nearly 3% but still holds a 4% weekly gain. The rest of the market has moved little, with ether and XRP trading within 1% of flat.