Bitcoin and other major cryptocurrencies regained ground over the past 24 hours, with XRP leading the rebound. However, the broader weekly picture remained weak, as Zcash and Hyperliquid were the only large-cap tokens still showing gains over seven days.

Bitcoin rose about 1.5% to trade above $77,600 during Thursday’s Asian session after dipping to nearly $76,400 late Wednesday in U.S. hours. XRP climbed roughly 3% to $1.36, while BNB gained about 2% to just under $692. Solana advanced around 2% to $100, and TRON added approximately 1% to $0.33. HYPE was mostly flat above $82, while ether remained below $2,400.

Over the past week, ETH had fallen roughly 4%, TRON declined about 3%, XRP lost around 3%, and Bitcoin slipped approximately 1%. Zcash, at about $817, and Hyperliquid remained the exceptions among major tokens.

Bitcoin Finds Support Near $76,350

Bitfinex analysts identified $76,350 as the approximate average cost basis for active Bitcoin investors. BTC came within about $50 of that level before buyers emerged, indicating that the price zone continues to provide support.

The area also appears to have absorbed selling from investors who purchased Bitcoin in February and March. With prices returning close to their entry levels, some holders may have used the move to exit without taking losses.

Bitfinex cautioned that September could still bring additional weakness because of Bitcoin’s historical seasonality. BTC has averaged a September loss of 2.95% since 2013. Still, the strong momentum generated in August could help maintain the broader bullish trend.

Inflation Concerns Keep Markets Under Pressure

Bitcoin’s recovery came as several macroeconomic indicators moved against risk assets. Fresh U.S. strikes near the Strait of Hormuz pushed oil prices higher, adding to concerns over renewed inflation.

The 10-year Treasury yield climbed above 4.8%, marking its highest closing level since 2023. The U.S. dollar index remained just below 100.

Meanwhile, the S&P 500 ended at 7,646, the Dow gained about 277 points, and gold traded around $4,418.

Jobs Data Could Shape Fed Expectations

Expectations for the Federal Reserve’s September decision have shifted. CME FedWatch showed traders assigning about a 62% chance of a 25-basis-point rate hike on Sept. 16, down from more than 67% a day earlier. That probability was around 37% a week ago, before Kevin Warsh’s Jackson Hole speech.

Markets are currently pricing in virtually no possibility of a rate cut.

The U.S. nonfarm payrolls report due Friday could provide the next major direction signal for Bitcoin. Options positioning suggests traders are preparing for heightened volatility around the employment data.

Protective put positions are concentrated around $68,000-$75,000 through the Sept. 11 CPI release, while call activity is positioned above Bitcoin’s current range. Meanwhile, leverage in perpetual futures has fallen from its August peak.

If payroll growth comes in weaker than expected, particularly after the soft ADP report, expectations for a Fed hike could decline further. Such a shift could strengthen Bitcoin’s momentum and potentially bring the $80,000 level back into focus.