Bitcoin
Bitcoin slips under $79,000 following stronger US jobs data
A robust US employment report reduced Federal Reserve rate cut expectations, triggering a quick pullback in Bitcoin toward key resistance levels.
On September 4, Bitcoin dropped 2.98% from $81,340 to $78,915 in just over two hours following stronger-than-expected United States employment data. The jobs report lowered market expectations for a Federal Reserve interest rate cut, though the asset preserved much of its upward momentum built over the prior three weeks. Macro developments remain central, as the Fed's upcoming September decision approaches and the Clarity Act vote could be postponed from mid-September to November after House leadership canceled late-September sessions.
On-chain metrics highlight potential profit-taking pressures near the $82,000 resistance area last tested in May. Data from Santiment shows the six-month market-value-to-realized-value (MVRV) ratio stood at 13.10%, indicating that 180-day holders are in profit on average. While a declining 180-day mean coin age points to distribution among medium-term investors, two-year dormant circulation remained subdued, suggesting that longer-term holders have not engaged in broad selling.
Additionally, data cited from CryptoQuant Insights indicates that the exchange stablecoins ratio on Binance reached its highest level in 2026. The ratio reflects a higher proportion of Bitcoin relative to stablecoin reserves, signaling reduced immediate buying capacity that could challenge attempts to surpass overhead resistance.
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