Bitcoin and other cryptocurrencies traded mixed on Thursday, with the world’s largest digital asset holding close to $84,000 while several major altcoins declined as investors assessed the U.S. interest-rate outlook ahead of Friday’s employment report.
Bitcoin was trading at $83,874.9, down 0.04 percent over the previous 24 hours but up 0.51 percent over seven days.
Its market capitalization stood at approximately $1.69 trillion, with around $39.13 billion changing hands over 24 hours.
Ether was almost unchanged at $2,697.41, slipping 0.01 percent over 24 hours while remaining 1.97 percent higher over seven days. Ethereum’s market capitalization stood at around $329.60 billion, with daily trading volume of roughly $15.11 billion.
The broader cryptocurrency market was also broadly steady. CoinMarketCap’s global market data showed total market capitalization at approximately $2.87 trillion, up 0.08 percent over 24 hours, while trading volume rose 9.04 percent to $98.79 billion.
Bitcoin represented 58.6 percent of the overall cryptocurrency market and Ethereum accounted for 11.4 percent. CoinMarketCap’s Fear and Greed Index stood at 67 out of 100, signaling greed.
Major altcoins retreat
Trading across large-cap alternative cryptocurrencies was mixed, with losses among XRP, Solana, TRON and several other widely held tokens offset by gains in Hyperliquid, Uniswap and Monero.
Tether traded at $1.0000, up 0.03 percent, while BNB edged 0.04 percent higher to $770.10. XRP declined 1.77 percent to $1.4887, although the token remained 1.78 percent higher over seven days, while USDC held at $1.0004.
Solana fell 1.41 percent to $117.789, but remained 4.02 percent higher for the week. TRON declined 2.08 percent to $0.333268, while Zcash fell 2.72 percent to $1,385.15.
Hyperliquid moved against the broader weaker trend, gaining 3.39 percent to $89.7249.
Dogecoin declined 1.23 percent to $0.094617, Chainlink fell 0.88 percent to $14.305, and Monero gained 0.14 percent to $541.77. Cardano slipped 0.57 percent to $0.2470, while UNUS SED LEO fell 2.01 percent to $8.8476.
Stellar was down 2.95 percent at $0.22189, NEAR Protocol lost 3.14 percent to $5.1324, and Bitcoin Cash declined 0.74 percent to $308.75. Uniswap gained 1.19 percent to $9.0034, while Litecoin fell 0.58 percent to $67.26.
Despite Thursday’s declines, several tokens remained sharply higher over seven days. Chainlink had gained 17.45 percent for the week, Stellar was up 12 percent, NEAR had advanced 22.61 percent, and Cardano remained 4.96 percent higher.
The mixed performance came as Bitcoin remained comparatively stable near the $84,000 level, leaving the broader market without a clear directional signal ahead of the next major U.S. economic release.
Smaller tokens diverge
Price movements were similarly divided among smaller cryptocurrencies and stablecoins, with some tokens posting gains even as many of their peers traded lower.
Ethena USDe remained near its dollar peg at $1.0000, while Avalanche declined 1.41 percent to $10.98. Canton dropped 3.15 percent to $0.12169, while Sui advanced 0.89 percent to $1.1612. Dai was virtually unchanged at $0.99981.
Hedera was among the session’s larger decliners, losing 4.68 percent to $0.10417, although the token remained 16.37 percent higher over the previous seven days.
World Liberty Financial USD1 traded near $0.99996, while Gram rose 1.12 percent to $1.5143.
Bittensor slipped 0.66 percent to $304.15, while Cronos jumped 4.84 percent to $0.07025. Quant declined 4.85 percent to $281.76, Shiba Inu fell 1.62 percent to $0.00000575, and Global Dollar remained around $1.0000.
Tether Gold traded at $4,176.80, down 0.24 percent, while PayPal USD remained close to its dollar peg at $0.9999. Pump.fun dropped 2.42 percent to $0.005603, while Ethena gained 0.62 percent to $0.2577.
Aave fell 1.54 percent to $164.37, OKB gained 0.48 percent to $120.95, and Ondo declined 0.91 percent to $0.50140. Ripple USD remained near $1.00046, while MemeCore was unchanged at around $1.18060.
Mantle gained 0.69 percent to $0.6927, Polkadot lost 2.19 percent to $1.202, and Aster fell 2.06 percent to $0.7456.
Worldcoin declined 1.60 percent to $0.522, Sky dropped 3.83 percent to $0.07890, and Internet Computer fell 4.37 percent to $3.28. PAX Gold traded around $4,182.51, down 0.19 percent.
The divergence highlighted a market where individual token momentum continued to drive substantial differences in performance even as Bitcoin and Ether remained largely stable.
ETF outflows return
Institutional flows provided a more cautious signal after U.S.-listed spot cryptocurrency funds returned to net outflows.
The latest Farside Investors Bitcoin ETF data showed U.S. spot Bitcoin ETFs recorded $139.2 million in net outflows on September 30, reversing the $66.2 million inflow recorded one day earlier.
The September 30 withdrawals were driven principally by $125.6 million leaving Fidelity’s FBTC and $13.6 million of outflows from Bitwise’s BITB, according to Farside.
Spot Ether ETFs also recorded $59.6 million in net outflows on Wednesday, according to Farside’s Ethereum ETF data, following a $2.8 million net outflow on September 29.
The latest withdrawals contrasted with a more optimistic longer-term assessment from Citigroup.
Citi raised its 12-month forecasts for both Bitcoin and Ether, citing stronger cryptocurrency activity, a more favorable macroeconomic environment and renewed ETF demand, according to Reuters.
The bank increased its 12-month Bitcoin forecast to $113,000 from $82,000, representing a substantial upgrade from its previous projection.
Citi also raised its Ether forecast to $3,028 from $2,240.
The contrasting signals left institutional demand in focus. Daily ETF flows have remained volatile, shifting between large inflows and withdrawals, while major financial institutions continue to assess whether expanding institutional participation can provide stronger longer-term support for cryptocurrency valuations.
Bitcoin’s relatively muted reaction on Thursday suggested traders were balancing the renewed fund withdrawals against the more supportive longer-term institutional outlook and shifting expectations for U.S. monetary policy.
Jobs data in focus
Macroeconomic conditions remained a major driver of cryptocurrency sentiment as investors weighed softer U.S. inflation against a continued selloff in government bonds.
The U.S. Bureau of Economic Analysis reported that the personal consumption expenditures price index increased 3.4 percent year over year in August, unchanged from July’s revised annual rate and below the 3.7 percent estimate in a Reuters poll.
The softer-than-expected reading reduced expectations that the Federal Reserve would raise interest rates again at its October meeting. However, inflation remained above the central bank’s 2 percent target.
At the same time, high Treasury yields continued to put pressure on financial conditions and risk assets.
The benchmark 10-year U.S. Treasury yield climbed above 5.3 percent on Thursday, reaching its highest level since 2002 as the global bond selloff extended into the beginning of the fourth quarter. Elevated yields can weigh on cryptocurrencies and other risk assets by increasing the relative attractiveness of interest-bearing investments and tightening overall financial conditions.
Attention now turns to the September U.S. employment report.
The Bureau of Labor Statistics is scheduled to release the Employment Situation for September on Friday, October 2, at 8:30 a.m. ET.
The labor-market report will provide investors with another major signal on the strength of the U.S. economy and could influence expectations surrounding the Federal Reserve’s next policy moves.
