Crypto Market Update: Bitcoin Dips After Jobs Report
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrencymarket news
Here's a quick recap of the crypto landscape for Friday (September 4) as of 10:00 a.m. UTC.
Bitcoin price update
Bitcoin (BTC) was priced at US$81,049.94, trading 1.3 percent higher over the past 24 hours.
Bitcoin price chart
Chart via the Investing News Network
Bitcoin price performance, September 4, 2026.
Ether and altcoin price update
Bitcoin price performance, August 19, 2026.
- Ethereum (ETH) was priced at US$2,521.17, trading 1.3 percent higher over the last 24 hours.
- XRP (XRP) was priced at US$1.45, up by 1.3 percent over the past 24 hours.
- Solana (SOL) was trading at US$104.06, trading flat over the past 24 hours.
Today's crypto news to know
Coinbase files SEC application to offer equity perpetual futures
Coinbase Global (NASDAQ:COIN) filed registration documents with the SEC to offer equity perpetuals, according to a Thursday (September 3) social media post from Chief Policy Officer Faryar Shirzad.
"This week, Coinbase took the first step to offer them in the U.S on our derivatives exchange by filing notice registration documents with the SEC," Shirzad wrote.
Equity perpetuals operate as derivative contracts tracking underlying assets that never expire, allowing traders to hold positions indefinitely without rolling over contracts. The proposed product will require approval from the Commodity Futures Trading Commission (CFTC) before launching to American traders.
"Equity perps have proven demand internationally, and we're excited at the prospect of a regulated pathway for U.S. investors," Shirzad further noted.
The exchange previously secured CFTC approval alongside prediction platform Kalshi to offer perpetual crypto futures earlier this year.
FinCEN ties US$12.7 billion to crypto investment scams
The Treasury Department's Financial Crimes Enforcement Network tied roughly US$12.7 billion in suspicious activity to crypto investment scams operating out of Southeast Asian compounds.
In a recent report, FinCEN analyzed 33,904 suspicious activity reports filed by approximately 1,300 financial institutions between September 2023 and December 2025.
Crypto money services businesses submitted 55 percent of all reports flagging US$5.5 billion, while traditional banks submitted 41 percent flagging US$6.4 billion. Monthly reported sums rose by an average of 18 percent over the analyzed timeframe as scam operations expanded.
Criminals accepted 22 different digital assets from victims before systematically swapping proceeds into USDT to process through offshore exchanges and DeFi protocols.
Furthermore, elder exploitation appeared in 25 percent of reports, matching the general elderly population share and contradicting assumptions that scammers disproportionately target older adults.
Bitcoin plunges US$2,000 following blowout US jobs report
Bitcoin plunged by US$2,000 down to US$79,200 immediately after the Bureau of Labor Statistics released a blowout US August jobs report.
The cryptocurrency had climbed above US$81,000 before the economic data triggered a sudden sell-off across risk assets. The US economy added 162,000 jobs in August, nearly tripling Wall Street expectations of 55,000 to 58,000 new positions.
The Labor Bureau also revised July data sharply higher, converting a previously reported loss of 23,000 jobs into a gain of 21,000. The national unemployment rate remained unchanged at 4.1 percent, while average hourly earnings increased 0.3 percent month-over-month and 3.1 percent annually.
A resilient labor market provides the Federal Reserve additional flexibility to maintain tight monetary policy. The strong employment data follows hawkish remarks from Federal Reserve official Kevin Warsh last week, alarming crypto market participants.
Robust job growth weakens arguments that the central bank needs to pause interest rate hikes to shield domestic employment.
Crypto traders now turn their focus to next week's Consumer Price Index report to gauge the central bank's next policy move.
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Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
