BTC Stays Near $112K as XRP and SOL Remain Steady Ahead of Key U.S. Jobs Report

Bitcoin Holds Near $112K as Rate-Cut Hopes Support Market; Altcoins Mixed

Bitcoin (BTC) steadied near $111,600 Friday, showing resilience despite macroeconomic jitters pulling broader risk assets lower. Ether (ETH) dipped 0.7% to $4,330, while Solana (SOL) rose 1.3% to above $204. XRP (XRP) remained flat at $2.81, up 3.5% over the week.

Traders are focused on Friday’s U.S. jobs report, expected to show rising unemployment, reinforcing bets on a September Federal Reserve rate cut. Still, extended easing is no longer widely anticipated.

“While higher unemployment supports a mid-September rate cut, further reductions this year may be limited,” said Jeff Mei, COO at BTSE. “The Fed is cautious about excess liquidity, which is why gold has rallied even as crypto and equities soften.”

Gold recently hit fresh highs above $3,500, highlighting its appeal as a store of value—a parallel increasingly drawn with bitcoin.

“Bitcoin is no longer just speculative; it’s a strategic allocation and a hedge against currency debasement and geopolitical risk,” said Vikrant Sharma, CEO of Cake Wallet. “A $100K-plus floor makes it feel like a global reserve asset in the making.”

BTC dominance remains near 60%, stabilizing sentiment as altcoins swing. Nassar Achkar, CoinW Chief Strategy Officer, noted, “Potential Fed rate cuts and institutional adoption continue to underpin fundamentals, but traders should watch for near-term volatility.”