Jobs Report Looms Large as Bitcoin Holds Near $78,000 Resistance

Crypto markets are holding their breath as the US jobs report looms large, potentially impacting the Federal Reserve's next move. Bitcoin is trading near $77,106, up 0.2% on the day, but remains below resistance near $78,000.

The report, due out today, is seen as a key catalyst for markets, with futures currently pricing a roughly 64% chance of a September rate hike. A hotter-than-expected payrolls number could firm up that pricing, while a soft print may pull yields lower again.

Ethereum and Solana are tracking Bitcoin's cautious tone, both trading near last week's peaks. On-chain data from Nansen shows Bitcoin needs to hold the $77,400 to $77,650 band to retest $80,000.