Bitcoin remained above $77,000 Wednesday as traders stuck with expectations for a September Fed rate hike despite a weaker private hiring report.
ADP said private employers added 38,000 jobs in August, below July’s 44,000. Traders nevertheless continued to favor a hike at the Sept. 15-16 meeting. Expectations for tighter policy strengthened after Kevin Warsh’s Jackson Hole speech, while inflation data and Friday’s US jobs report could determine whether those bets hold.
Bitcoin traded around $77,000, down about 1% over the past day and nearly 2% over the week, per CoinGecko. Ether fell to around $2,400, while XRP slipped to about $1.33. Solana traded near $99 after falling about 2%, though it remained higher on the week. BNB was little changed at $686.
The overall crypto market was worth about $2.7 trillion, down nearly 2%, with Bitcoin accounting for roughly 58%.
Higher Treasury yields continued to weigh on risk assets. The 10-year yield reached its highest level since early 2025, while the 30-year yield also remained elevated. Japanese bond yields climbed as well.
