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Bitcoin trades near $77,000 after soft ADP jobs data

The private-sector job report showed hiring rose only 38,000, the weakest level since January, helping ease bond yields.

Reported · Written up by our desk · Market Structure

CoinDesk reports that Bitcoin was trading near $77,000 as investors digested a softer-than-forecast ADP private-sector jobs report and bond yields moved lower.

ADP said private-sector employment growth rose 38,000, missing expectations and marking the weakest reading since January, a development that appeared to support risk sentiment in crypto.

The CoinDesk live update also noted other rate and currency signals during the same market window, including the Bank of Canada holding its benchmark lending rate at 2.25% and expectations that the Federal Reserve could raise rates after its next meeting.

CoinDesk’s update said the Fed-watch framing includes additional economic data before a mid-September decision, with the August CPI release scheduled for Sept. 11, days ahead of the next rate action.

Latest closeBitcoin $77,563.82 ▲0.2%

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