Crypto market sentiment held steady on Wednesday, with Bitcoin trading near the $107,000 mark as traders remained cautious ahead of key US economic data due Thursday.

Market participants are awaiting the release of the May Job Openings and Labor Turnover Survey (JOLTS) and June’s non-farm payrolls and unemployment figures—data that could shape expectations around the Federal Reserve’s next policy move.

Speaking at the European Central Bank’s forum on Tuesday, Fed Chair Jerome Powell reiterated that interest rate decisions will remain data-dependent.

However, he refrained from offering any guidance on the potential timing of policy changes.

Despite the broader wait-and-see tone in the market, one early-stage project has continued to attract investor interest.

Bitcoin Pepe’s presale, which began in February, has maintained steady momentum, drawing attention amid the ongoing search for high-risk, high-reward opportunities in the crypto space.

Meme coins led the broader cryptocurrency market lower over the past 24 hours, with sharp losses seen across several high-profile tokens.

Fartcoin (FARTCOIN) and dogwifhat were among the biggest decliners, dragging down sentiment in the speculative segment of the market.

Algorand (ALGO) also posted a notable pullback, dropping 7% after failing to hold onto Tuesday’s early gains.

The sudden downturn aligns with Bitcoin’s dip below the $106,000 level, which has exerted pressure across digital assets.

While Bitcoin remains near recent highs, the move lower dented risk appetite.

The total market capitalization of meme coins fell nearly 3% to $55 billion, outpacing the broader crypto market’s more modest 0.2% decline.

The overall market cap now stands at approximately $3.29 trillion.

The crypto market has faced heightened volatility in recent months, with major digital assets experiencing sharp fluctuations and meme coins struggling to regain momentum.

High-profile tokens such as Dogecoin, PEPE, and Shiba Inu have largely stagnated, showing little in the way of sustained gains.

Amid this broader cooling-off, the Bitcoin Pepe presale has continued to gain traction, standing out in an otherwise subdued segment.

Its steady investor interest suggests that the project may be better equipped to navigate current market headwinds compared to its meme coin peers.

Bitcoin Pepe distinguishes itself from traditional meme tokens through its underlying infrastructure.

As the first meme-centric Layer 2 built on the Bitcoin network, the project aims to combine Bitcoin’s base-layer security with scalability features akin to those of Solana.

To support its Layer 2 ecosystem, Bitcoin Pepe has announced strategic partnerships with Super Meme, Catamoto, and Plena Finance—moves designed to expand its utility beyond speculative trading.

This blend of technical innovation and cultural appeal appears to be resonating with investors.

The ongoing presale has raised over $16 million, with momentum building ahead of a final listing announcement scheduled for July 31.

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