Bitcoin Stays Flat at $64,300 Ahead of US Jobs Data

Bitcoin is trading sideways at $64,300 today. Investors are waiting for the latest US jobs report, which will likely dictate the next price move for the market. This economic data is often a major trigger for volatility across all risk assets.

Rising oil prices are also creating pressure on the market. Brent crude increased following stalled talks in the Strait of Hormuz, which has brought fresh inflation concerns back to the surface. These worries have kept a lid on Bitcoin growth throughout the summer months.

Traders are watching the payroll numbers closely to see if the Federal Reserve will change its stance on interest rates. A strong report could suggest that the economy is resilient, while a weak report might raise concerns about a slowdown. The market sentiment remains cautious until the data is released later today.