Bitcoin Traders Eye Payroll Reports Amid $76.5k-$79.5k Range

Bitcoin has been trading within a narrow range of $76.5k to $79.5k for five consecutive sessions following the Federal Reserve's hawkish turn at Jackson Hole.

This stability is significant as it aligns closely with the average cost basis of nearly 880,000 BTC held by active traders on Bitfinex.

The exchange notes that this period of stability comes in the wake of the Fed's recent comments, which have raised concerns about interest rate adjustments and their potential impact on the crypto landscape.

As traders await the upcoming payroll reports due on Friday, market participants are keenly observing how these macroeconomic factors could influence Bitcoin's trajectory.