Crypto Majors Gain as XRP Leads and Bitcoin Climbs Back Above $77,500

Bitcoin regained the $77,500 level on Thursday as XRP led gains among major cryptocurrencies, although the broader seven-day performance remained subdued.

BTC climbed about 1.5% over 24 hours to trade above $77,600 during Asian hours after briefly falling to around $76,400 late Wednesday in the U.S. session. XRP rose roughly 3% to $1.36, while BNB added about 2% to trade just below $692. Solana gained around 2% to $100, and TRON advanced approximately 1% to $0.33. Hyperliquid was largely unchanged above $82, while ether stayed below $2,400.

The weekly picture was less encouraging. ETH had declined about 4%, TRON and XRP each lost roughly 3%, and Bitcoin slipped around 1%. Zcash, near $817, and HYPE were the only major tokens still recording weekly gains.

$76,350 Emerges as Key Bitcoin Level

Bitfinex analysts pointed to approximately $76,350 as the average cost basis for active Bitcoin investors. BTC dropped to within about $50 of that level before demand returned, highlighting the importance of the zone as near-term support.

The area may also have helped absorb selling from investors who bought during February and March. With Bitcoin approaching their original entry prices, some holders were able to exit near breakeven instead of selling at a loss.

Seasonality remains a potential headwind. Bitcoin has historically performed poorly in September, averaging a 2.95% decline for the month since 2013. Bitfinex said, however, that the strong momentum seen in August could continue to support the longer-term trend.

Macro Pressure Remains

Bitcoin’s rebound occurred despite renewed inflation concerns across traditional markets. U.S. strikes near the Strait of Hormuz sent oil prices higher, while the 10-year Treasury yield moved above 4.8%, its highest closing level since 2023.

The dollar index was just below 100. The S&P 500 closed at 7,646, while the Dow Jones Industrial Average gained roughly 277 points. Gold traded near $4,418.

Employment Data in Focus

Rate expectations have shifted ahead of the Federal Reserve’s Sept. 16 meeting. CME FedWatch indicated a roughly 62% probability of a 25-basis-point hike, compared with more than 67% a day earlier. A week ago, the probability stood near 37%, before Kevin Warsh’s Jackson Hole speech.

Markets are assigning virtually no probability to a rate cut.

Friday’s nonfarm payrolls report could now determine Bitcoin’s next major move. Options positioning shows traders preparing for volatility, with downside protection concentrated between $68,000 and $75,000 through the Sept. 11 CPI report. Call positions remain clustered above Bitcoin’s current range.

At the same time, leverage in perpetual futures has fallen from its August high. If payroll growth disappoints and confirms the weakness already seen in ADP data, expectations for a September rate hike could ease. That could provide Bitcoin with another catalyst toward $80,000.