Crypto Markets Show Volatility Ahead of US Jobs Report

The cryptocurrency market is showing signs of volatility as it approaches the release of the U.S. jobs report. Bitcoin derivatives have surged in anticipation, but other markets are experiencing a different trend. In South Korea, the crypto exchange sector saw operating profits plummet by 78% in the first half of this year compared to the previous six months.

Bitcoin's price held steady near $83,370 as it awaited the U.S. PCE inflation data release. Meanwhile, the NIGHT token from Midnight jumped more than 20% in value. However, XRP open interest on Binance dropped by 15.3% from its highs recorded earlier this month.

Stablecoin card spending reached a record high of $1.17 billion in September, despite a decline in transaction count. This resulted in an average purchase amount of around $107. On the other hand, altcoin exchange deposits skyrocketed by 160% to reach 78,000 transactions over seven days.