Bitcoin climbed back above $77,500 Thursday morning after briefly dropping toward $76,400 during late U.S. trading.
The recovery followed repeated buying near approximately $76,350, a level Bitfinex analysts estimate represents the average acquisition price of active Bitcoin investors. That makes the area particularly significant because holders who bought earlier this year are being given an opportunity to exit around breakeven.
Bitcoin gained roughly 1.5% over 24 hours during the rebound, while XRP, BNB and Solana also recovered. Ether remained the relative laggard, trading below $2,400 during the same period.
The rebound is occurring without perfect confirmation from spot-market flows. CoinDesk reported increased exchange deposits, softer ETF activity and stablecoin supply remaining near $310 billion after expanding steadily during August.
That means price is currently holding up better than some underlying liquidity indicators. A healthy continuation would ideally include declining exchange deposits and renewed institutional inflows rather than price appreciation driven primarily by derivatives.
Friday’s U.S. employment report is therefore particularly important. A weaker reading could lower expectations for a Fed rate hike and reopen the route toward $80,000. A stronger report could strengthen yields and the dollar, forcing Bitcoin to retest support.
TOKEN RECON ASSESSMENT
The immediate Bitcoin mission is straightforward: defend $76,350-$76,500.
Buyers have shown they are willing to engage there. The next test is whether that defense can attract fresh spot and ETF demand rather than merely delay another decline.
Source: CoinDesk.
