This episode of Markets Daily is sponsored by Cracken and Simpleris.

It's Friday, September 1st, 2023, and this is Markets Daily from CoinDesk.

Hi, Michelle Muso here with your Crypto Markets Roundup.

On today's show, we're talking Bitcoin, spot Bitcoin ETFs, and more.

And just a reminder, CoinDesk is a news source and does not provide investment advice.

Bitcoin and major tokens gave back all weekly gains as the SEC, the U.S. Securities and Exchange Commission,

delayed key exchange-traded fund decisions that were expected on Friday,

dampening traders' hopes of a long-term recovery.

The largest cryptocurrency fell under $26,000.

In the past 24 hours, Major Solana and Lightcoin dropped as much as 5.5% while Ether lost 3.7%.

Only Tron and Tuncoin were in the green on Friday up over 1% each.

With Spot Bitcoin ETF aspirations sidelined after the SEC yesterday pushed off decisions on a raft of new applications,

Crypto Bulls are hoping an employment slowdown and lower interest rates could provide a positive

catalyst. The U.S. added 187,000 jobs in August versus expectations for 170,000, while the

unemployment rate for August stood at 3.8%, surpassing earlier forecast of only 3.5%,

and marking an increase from the previous month's figure of 3.5%. The price of Bitcoin exhibited minimal

fluctuations hovering slightly above $26,000. In the immediate aftermath of the Friday morning release of the Bureau of

Labor Statistics Report, Bitcoin Bulls might be looking to a softening in the economy and thus

lower interest rates as a possible catalyst for market action. While this morning's report provided

some interest in the form of rising unemployment rate, job growth continues to be chugging along.

And shifting to stable coins, Liraback TRIB token has become the world's second largest non-dollar pegged stablecoin,

second only to Tether's Europegged EURT. While the stable coin world is dominated by dollar-backed

...