Bitcoin Steady Ahead of Friday's Jobs Data, Markets Expect 25-Basis-Point Fed Cut

Bitcoin remains stable at $111,100, awaiting US labor market figures on Friday that could influence the Federal Reserve's interest rate decision later this month. Goldman Sachs predicts a weaker August Nonfarm Payrolls report, with 60,000 jobs added and an unemployment rate of 4.3%. The market expects a 25-basis-point Fed cut on Sept. 17, but wage and unemployment surprises could sway the outlook.

Bitcoin (BTC) remains stable near $111,100, awaiting the release of US labor market figures on Friday. The market anticipates a 25-basis-point Fed rate cut on September 17, but wage and unemployment surprises could sway the outlook. Goldman Sachs predicts a weaker August Nonfarm Payrolls report, with 60,000 jobs added and an unemployment rate of 4.3% [1].

Bitcoin's price has recovered slightly, hovering around $111,100 mid-week after extending its three-week trend of lower lows from its record high of $124,474. The recovery is supported by renewed institutional demand and corporate accumulation, which is strengthening market sentiment [2]. Meanwhile, the growing expectations of a 90% probability of a Federal Reserve (Fed) rate cut in September are fueling risk-on appetite, supporting the largest cryptocurrency by market capitalization recovery [2].

Stellar (XLM) edges lower by over 1% at press time on Wednesday, reversing after the 3% jump from the previous day. The soft stance in XLM aligns with the mixed technical and derivatives sentiment ahead of Stellar’s Protocol 23 launch, named Whisk [2]. Ethena (ENA) edges higher by 1% at press time on Wednesday, extending the weekly gains to 9% so far. The technical and derivative outlook suggests a bullish bias, while the upcoming 171 million ENA unlock bears a potential supply dump risk [2].

XRP has shown signs of increased institutional interest and accumulation, with whale addresses accumulating approximately 340 million tokens, valued at around $960 million, over the past two weeks. This activity has pushed the token’s price to a 24-hour high of $2.83, with a 3% increase noted in the same period [3]. The upcoming Federal Reserve interest rate decision on Sept. 17 is expected to play a critical role in shaping XRP’s short-to-medium-term trajectory. According to the CME FedWatch tool, there is an 87.6% probability that the Fed will cut rates by 25 basis points, which could provide a much-needed boost to risk assets such as cryptocurrencies [3].

John Williams, President of the New York Federal Reserve, stated that interest rates are expected to be lowered over time, but did not specify the exact timing or magnitude. Williams believes that the Federal Reserve must maintain a balance between employment and inflation risks, with current concerns about employment rising and inflation worries slightly decreasing [4].

The market remains cautious, with analysts split between $1.00 downside and $7–$8 targets for XRP. A break above $3.30 could potentially target $4.00 or higher, while a breakdown below the $2.70–$2.74 support level would expose the token to further declines toward $2.50 [3].

In response to growing investor interest, FindMining has launched new high-yield cloud mining contracts for XRP and Dogecoin, offering a range of options for different types of investors. The platform reported over 9.4 million registered users globally and operates 135 mining farms across 175 countries [3].

References:
[1] https://www.fxstreet.com/cryptocurrencies/news/cryptocurrencies-price-prediction-bitcoin-stellar-ethena-european-wrap-3-september-202509031135
[2] https://www.ainvest.com/news/xrp-news-today-institutional-moves-fed-watch-xrp-crossroads-caution-crossover-2509/
[3] https://news.futunn.com/en/post/61691411/federal-reserve-s-williams-suggests-that-the-policy-interest-rate